____ is the income actually available to the consumers that determines aggregate demand.
A. Nominal income
B. Net domestic product
C. Income corrected for depreciation
D. Disposable income
Answer: D
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In 2003, the largest component of U.S. national income was
a. compensation of employees b. rental income c. proprietor's income d. farm income e. corporate profit
People maximize utility when they make the choices that provide the highest level of satisfaction
a. True b. False Indicate whether the statement is true or false
Which of the following is a renewable resource?
A. Trees B. Oil C. Coal D. Natural gas
The Clinton administration inherited a budget deficit from its predecessor. President Clinton instituted major tax increases that:
A. increased the budget deficit during his entire term. B. brought the budget into balance and eventually into a surplus. C. reduced the budget deficit but increased the federal debt. D. reduced the size of the deficit but could not eliminate it.