______________ is the time that an individual cannot control totally by himself or herself
a. Discretionary time
b. Real time
c. Psychic time
d. Nondiscretionary time
D
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When using the income approach to calculate nominal GDP, you should ________.
A. subtract transfer payments B. add transfer payments C. subtract indirect business taxes D. add indirect business taxes
Corporate profits are taxed twice because
A) taxes are collected on profits before profits are distributed to shareholders. B) the government wants to minimize the amount of tax paid on capital gains. C) it is economically efficient to reduce the amount of retained earnings. D) capital gains are not indexed to the rate of inflation.
Oligopolistic industries are characterized by a
A) few large firms and no barriers to entry. B) large number of firms and no barriers to entry. C) few large firms and substantial barriers to entry. D) large number of firms and substantial barriers to entry.
Which of the following is true about present day Americans who are at the official poverty level?
a. Their incomes are about the same as the average per capita income in most of the developed nations of the world.. b. Their incomes are about half of the average world income. c. Their incomes are far higher than the average per capita income in most of the rest of the world. d. Their incomes are almost equal to the average income of people in nations like China, India, and Pakistan.