To reconcile net national product and national income,
a. national income is calculated first, and capital depreciation is subtracted from it to get net national product
b. national income is calculated first, and indirect business taxes are subtracted from it to get net national product
c. net national product is calculated first, and indirect business taxes are subtracted from it to get national income
d. net national product is calculated first, and compensation of employees is added to it to get national income
e. gross national product is calculated first, and capital depreciation plus nonfactor charges are subtracted to get national income
E
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A tax is imposed on employers and workers that are used to fund Social Security and Medicare. This tax is sometimes referred to as
A) the federal income tax. B) the Income Security Tax. C) the payroll tax. D) the ACIF.
All of the following are possible consequences of noise traders EXCEPT
A) increased volatility in the financial market. B) asset prices differing from fundamental values. C) herd behavior contributing to speculative bubbles. D) reduced volatility of asset prices.
Which of the following is not part of the Federal Reserve System?
a. Council of Economic Advisors b. 12 Federal Reserve District Banks c. Federal Open Market Committee d. Board of Governors
Al, Ralph, and Stan are all intending to retire. Each currently has $1 million in assets. Al will earn 16% interest and retire in two years. Ralph will earn 8% interest and retire in four years. Stan will earn 4% interest and retire in eight years. Who will have the largest sum when he retires?
a. Al b. Ralph c. Stan d. They all retire with the same amount.