National income minus personal taxes net of transfer payments equals disposable income
a. True
b. False
Indicate whether the statement is true or false
True
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The official settlements balance or balance of payments is the sum of
A) the current account balance, the capital account balance, the non reserve portion of the financial account balance, the statistical discrepancy. B) the current account balance and the capital account balance. C) the current account balance, the capital account balance, the non reserve portion of the financial account balance. D) the current account balance and the non reserve portion of the financial account balance. E) the current account balance and the interest in all investments.
The concept that explains the firm's ability to produce output with differing bundles of resources is called
a. Resource heterogeneity b. Resource immobility c. Barriers to entry d. Imitability
The blame for failing to address the budget deficits of the 1980s and early 1990s
A. is clearly the fault of the Republican administrations. B. is clearly the fault of the Democratic Congresses. C. is a political question rather than an economic question. D. is an economic question rather than a political question.
Purchasing power parity (PPP) measurements of income are a way to make international comparisons by correcting for national differences in
A) unemployment. B) inflation. C) prices of goods and services. D) economic growth.