Public goods are usually provided by:
a. private industry.
b. the government.
c. private citizens.
d. internal markets
e. local industry.
b
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Disposable personal income is equal to
a. GDP minus personal taxes. b. NI minus personal taxes. c. NI plus personal taxes. d. PI minus personal taxes.
The demand curve of the monopoly firm is always the
A. average revenue curve. B. marginal revenue curve. C. total revenue curve. D. marginal cost curve above average variable cost.
Transfer payments are:
a. cash given by firms to shareholders. b. a major source of income for the labor force. c. cash transfers like welfare benefits and social security. d. not a significant part of public policy.
Supply is best defined as the:
A) relationship between the quantity of a good or service buyers are able to purchase, all other things unchanged. B) relationship between the quantity of a good or service buyers are willing to purchase, all other things unchanged. C) relationship between the quantity of a good or service sellers are willing to offer for sale and various prices, all other things unchanged. D) quantity of a good or service sellers are willing to offer for sale at a specific price, all other things unchanged.