Disposable income ________ when ________
A) decreases; taxes increase
B) decreases; transfer payments increase
C) increases; government expenditures decrease
D) decreases; aggregate income increases
A
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Based on the figure below. Starting from long-run equilibrium at point C, a tax increase that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies.
A. D; C B. D; B C. A; B D. B; C
Refer to Figure 7.1. Suppose the city passes an ordinance banning loud music, and this directly impacts Angus's legal ability to play his bagpipes
If Angus continues to play the bagpipes and Dudley calls the police, the payoffs in the appropriate cell in the payoff matrix would change to A) N/A. B) 550, 100. C) 100, 550. D) The payoffs would not change.
Which of the following correctly orders U.S. income measures from largest to smallest?
a. disposable personal income, gross national product, national income, net national product, personal income b. personal income, net national product, national income, gross national product, disposable personal income c. gross national product, net national product, national income, personal income, disposable personal income d. disposable personal income, personal income, national income, net national product, gross national product
Which of the following factors is not part of the current account (CA) of a country?
a) exports and imports b) income payments and receipts c) unilateral transfers d) purchase of foreign stocks