Where does most of personal income come from?
a. Personal Interest
b. Transfer Payments
c. Proprietor's Income
d. Wages and Salaries
d
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The federal government’s principal tool in altering consumer spending is changing
A. corporate income taxes. B. federal sales taxes. C. unemployment insurance benefits. D. personal income tax rates.
The marginal revenue that would be derived from producing a fourth unit of output is
A. $30.
B. $24.
C. $21.
D. $12.
The slope of the budget constraint line is the
A) income of consumers divided by the price of each good. B) ratio of this year's income to last year's income. C) rate of exchange between the two goods. D) ratio of different levels of income.
The invention of the steam engine ushered in the following developments, except:
A. Mass-production in industrial factories, for the first time B. Much easier and cheaper transportation of resources and products C. A sharp reduction in trade as many societies specialized D. Major population shifts, from farms to towns and cities