What is the amount of money a person has left of his or her income after taxes called?
(A) Disposable personal income
(B) National income
(C) Personal income
(D) Aggregate income
Ans: (A) Disposable personal income
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Some policymakers have argued that products like cigarettes, alcohol, and sweetened soda generate negative externalities in consumption
All else equal, if the government decided to impose a tax on soda, the equilibrium quantity of soda would ________ and the equilibrium price of soda would ________. A) increase; increase B) increase; decrease C) decrease; decrease D) decrease; increase
When the federal budget is used as a tool for economic stabilization, the ideal goal is to
a. balance the budget over the entire business cycle. b. balance the budget each year. c. balance the budget during expansions. d. run a surplus during contractions.
The derived demand and, consequently, the demand curve for labor are determined by
a. labor's wage. b. labor's marginal revenue. c. the marginal cost of the input labor. d. labor's marginal revenue product.
Which of the following is a determinant of productivity?
a. human capital per worker b. physical capital per worker c. natural resources per worker d. All of the above are correct.