The U.S. imposed high tariffs in the early nineteenth century in retaliation for British tariffs imposed on American goods
Indicate whether the statement is true or false
False
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Table 5.3National Income Accounts (dollar figures are in billions)Expenditures for consumer goods and services$8,200Exports$1,700Government purchases of goods and services$2,500Social Security taxes$1,900Net investment$1,400Indirect business taxes$1,400Imports$1,900Gross investment$1,800Corporate income taxes$600Personal income taxes$1,500Corporate retained earnings$130Net foreign factor income$100Government transfer payments to households$1600Net interest payments to households$500On the basis of Table 5.3, the value of the income aggregate that is defined as "after-tax income of consumers" (also known as disposable income) is
A. $10,070 billion. B. $10,600 billion. C. $8,570 billion. D. $11,570 billion.
Personal disposable income is pre-tax income that flows directly to households.
Answer the following statement true (T) or false (F)
Adam Smith used the metaphor of the "invisible hand" to explain how:
A. markets mismatch buyers and sellers. B. business owners are benevolent. C. people acting in their own self-interest promote the interest of society as a whole. D. the production possibilities frontier illustrates efficient outcomes.
Refer to Exhibit 2-9. Who has the comparative advantage in the production of good B?
 ANSWER 5.png)