In 2017 about 9% of personal income in the United States came from
A. transfer payments.
B. property income.
C. wages and salaries.
D. profits.
Answer: A
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Direct franchising ________ firms to retain close control over their foreign franchises, but ________ give firms familiarity with foreign markets, laws, traditions, and social customs.
A) allows; does not B) allows; does C) does not allow; does not D) does not allow; does
If the Fed reduces the required reserve ratio,
a. excess reserves will increase. b. excess reserves will decrease. c. total reserves will increase. d. total reserves will decrease.
Which of the following is true about the U.S. economy?
A. It had greater economic problems than other Western countries in the 1990s. B. It still experiences periods of inflation and unemployment. C. It has experienced 30 years of outright recession in the last 50 years. D. It has been able to do away with the business cycle.
If current aggregate expenditure equals current production, an economy is in equilibrium.
a. true b. false