Total output equals total income
A. in the income-expenditures diagram.
B. in the circular demand diagram.
C. in the circular sales diagram.
D. in the spending-output diagram.
Answer: A
You might also like to view...
Currency is included in
A) M1 only. B) M2 only. C) neither M1 nor M2. D) both M1 and M2.
Suppose the official gold value of the Brazilian real changes from 457 reals per ounce to 528 reals per ounce. We can then say that:
a. the Brazilian real has been devalued. b. the Brazilian economy is expected to experience rapid inflation. c. gold has been devalued. d. the Brazilian real has appreciated in value. e. gold is now cheaper to purchase in Brazil than it was before.
Craig quit a job earning $12,00 . per year to open his own lawn-care service. Yesterday, he was offered a job earning $20,00 . per year at Home Depot, but he turned it down to continue running his lawn-care service. Assuming that his total revenue (= P
× Q) has not changed, (a) explain the impact of this job offer on Craig's economic profit, and (b) explain the impact of this job offer on his normal profit.
The individual income tax, the inheritance tax, and the head tax are all examples of direct taxes
a. True b. False Indicate whether the statement is true or false