In a market economy, the incomes of consumers depend primarily upon:
A. Government policies in setting wages and interest rates
B. The quantity and prices of resources that they possess
C. The amount of savings that they have accumulated
D. How closely connected they are to government and business leaders
Answer: B
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The portion of national debt owned by foreigners does constitute a burden on the nation as a whole.
Answer the following statement true (T) or false (F)
Technological advances generally result in
A) increased average number of hours worked per day. B) increased infant mortality rates. C) decreased incomes. D) increased life expectancy.
During a "flight to quality"
A) the spread between Treasury bonds and Baa bonds increases. B) the spread between Treasury bonds and Baa bonds decreases. C) the spread between Treasury bonds and Baa bonds is not affected. D) the change in the spread between Treasury bonds and Baa bonds cannot be predicted.
If a nation has a higher level of technology than another nation it can produce:
A. more outputs with the same level of physical capital. B. less with the same amount of physical capital. C. more with no use of human capital. D. the same output with the same level of inputs.