Raghib teaches mathematics at Camford University and receives $40,000 per year. His spouse, Noraini, works as a self-employed computer programmer and charges $40 per hour. Which of the following is true?
a. Raghib's income is personal interest; Noraini's is wages
b. Raghib's income is a salary; Noraini's is personal interest
c. Both Raghib and Noraini receive proprietor's income
d. Both Raghib and Noraini receive wage or salary income
e. Raghib's income is a salary, and Noraini's income is a proprietor's income
E
You might also like to view...
The Car Allowance Rebate System (CARS)
a. was launched as a stimulus program by the Reagan administration b. was introduced under the Consumer Assistance to Recycle and Save Act of 2009 c. is currently available to purchasers of plug-in hybrids d. was the first-ever Vehicle Accelerated Vehicles Retirement (VAVR) program
Opportunity cost is the combined value of all of the other alternatives that go unselected.
Answer the following statement true (T) or false (F)
Goods are ________ when the income elasticity of demand is less than zero
A) substitutes B) complements C) inferior D) elastic E) normal
When the current price is above the market-clearing level we would expect:
A) quantity demanded to exceed quantity supplied. B) quantity supplied to exceed quantity demanded. C) a shortage. D) greater production to occur during the next period.