Disposable income equals aggregate income
A) minus saving and minus net taxes.
B) minus saving.
C) minus net taxes.
D) plus net taxes.
E) plus saving minus net taxes.
C
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Cross-subsidization implies that a loss from one product's sales will be made up by the profit from another product's sales
a. True b. False Indicate whether the statement is true or false
The "natural" rate of unemployment is the unemployment rate toward which the economy gravitates in the
a. short run, and the natural rate is constant over time. b. long run, and the natural rate is constant over time. c. short run, and the natural rate changes over time. d. long run, and the natural rate changes over time.
In his book, An Inquiry into the Nature and Causes of the Wealth of Nations, economist Adam Smith argued that individuals
A) always tend to act in an altruistic manner. B) always consider the impact of their actions on the welfare of others. C) are motivated by self-interest. D) are never concerned with economic issues.
A justification for government price supports on agricultural products that economists generally accept as potentially legitimate is
A. the market punishes innovation. B. the price variability needs to be dampened. C. the market favors milk producers. D. the market is unfair to poor farmers.