National income minus the amount of national income not going to households is
A. personal income.
B. interest income.
C. disposable income.
D. proprietor's income.
Answer: A
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The balance of payments includes
a. only exports, imports, and service transactions. b. the balance on current account, plus all capital transactions and all official transactions and the statistical discrepancy. c. only the official transactions. d. all goods and services produced in a nation’s economy during a given year.
Black-market prices are below equilibrium prices because sellers want to sell large quantities
a. True b. False Indicate whether the statement is true or false
If the federal government decreases its expenditures on goods and services by $10 billion and decreases taxes on personal incomes by $10 billion, which of the following will occur in the short run?
A) The federal budget deficit will increase by $10 billion B) The federal budget deficit will decrease by $10 billion C) Aggregate income will remain the same D) Aggregate income will increase by up to $10 billion E) Aggregate income will decrease by up to $10 billion
The key to optimally managing renewable and nonrenewable resources is to design incentive structures that:
A. Reduce the costs of production to the lowest possible level B. Increase the benefits from production to the highest possible level C. Weigh the net benefits of current use with the net benefits of future use D. Add the net benefits of current use to the net benefits of future use