You own stock that increases in value by $3,000 but you do not cash in the stock. The $3,000 is
A. counted as part of economic income but not part of taxable income.
B. counted as neither taxable nor economic income.
C. counted as both economic and taxable income.
D. counted as taxable income but not economic income.
Answer: A
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John makes it a point to save a portion of his salary every month. Assuming all else equal, if the real interest rate increases, it is likely to cause:
A) a downward movement along John's credit supply curve. B) John's credit supply curve to shift to the left. C) John's credit supply curve to shift to the right. D) an upward movement along John's credit supply curve.
The marginal revenue product is the extra revenue the firm receives by selling one additional unit of output.
Answer the following statement true (T) or false (F)
A key difference between import quotas and voluntary export restrictions (VERs) is that
A. the former requires cooperation from a foreign government or foreign producers, whereas the domestic government may unilaterally enact the latter. B. one raises the price of the imported product involved, whereas the other does not. C. the domestic government may unilaterally enact the former, whereas the latter requires cooperation from a foreign government or foreign producers. D. one is a tax, whereas the other is a quantity limit.
If the average product of 20 workers is 100 bushels of wheat and the average product of 21 workers of wheat is 99 bushels of wheat, then the marginal product of the 21st worker was
A) -1 bushel of wheat. B) 5 bushels of wheat. C) 79 bushels of wheat. D) 99 bushels of wheat.