Transfer payments represent income that is not earned but received by individuals.
Answer the following statement true (T) or false (F)
True
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When a firm builds a new factory, this is an example of an investment in
A. the market. B. physical capital. C. research and development. D. human capital.
The highest federal personal income tax bracket is _____ percent.
A. 28 B. 35 C. 36 D. 50
If social regulation increases a firm's fixed and variable costs:
a. then both marginal cost and average total cost will increase, and the firm will produce more. b. then both marginal cost and average total cost will increase, and the firm will produce less. c. then both marginal cost and average total cost will decrease, and profits will increase. d. then marginal cost will increase, average total cost will be constant, and price will decline. e. then both price and quantity produced will fall.
Under the gold standard,
a. no nation had control of its domestic monetary policy, and therefore no nation could control its aggregate demand. b. the world's commerce was at the mercy of gold discoveries. c. discoveries of gold meant higher prices in the long run and higher real economic activity in the short run. d. All of the above are correct.