The regular income a person expects to earn annually, which may differ by some unexpected gain or loss from the actual income earned, is known as
a. disposable income
b. permanent income
c. transitory income
d. relative income
e. intended income
B
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Consider the following methods of pollution reduction:
a. the government sets a target for maximum emissions b. the government mandates the installation of specific pollution abatement equipment c. the government imposes a per unit tax on the good that creates pollution d. the government gives firms a tax rebate for every unit of pollution abated Which of the above is an example of a command-and-control approach to reducing pollution? A) a only B) b only C) a and b only D) a, b, and d only E) a, b, c, and d
The U.S. fiduciary monetary system
A) is the one agency responsible for providing coins and paper currency. B) is one where money is not convertible to a fixed quantity of gold. C) puts capital controls in place. D) controls the private banking system.
The long-run Phillips curve:
a. is downward sloping. b. is upward sloping. c. shows there is no tradeoff between unemployment and inflation. d. is horizontal at the natural rate of inflation.
Which of the following is not an explicit cost for the owner of a local pizza parlor?
a. flour b. cleaning products c. other uses for the land that the parlor sits on d. pizza ovens