Profits, rents, interest, and royalties are examples of:
A. investment.
B. labor income.
C. capital income.
D. consumption.
Answer: C
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Is there any common characteristic shared by government-inhibited goods and government-sponsored goods? Explain briefly
What will be an ideal response?
The official unemployment rate may not reflect the true state of unemployment because: a. Some workers may go through the motions of looking for work to keep their unemployment benefits, but not actually be looking for work. b. Some people who are working in the underground economy may be classified as unemployed
c. Some may leave the labor force and go back to school only because job conditions are currently poor. d. all of the above.
If the exchange rate value of the dollar depreciates relative to other currencies, we would expect
a. U.S. exports to decrease. b. U.S. exports to increase. c. U.S. imports to increase. d. aggregate demand in the United States to decrease.
If the demand for a consumer good decreases, the demand for resources required to make the good will
a. increase. b. remain the same, but the quantity demanded will increase. c. decrease. d. increase or decrease depending on whether the demand for the product is elastic or inelastic.