Income that flows to the private sector for services and production is called
A) national income. B) net income. C) derived income. D) deficit income.
A
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Describe the process by which the competitive market establishes a price at which all firms are just earning normal profits
What will be an ideal response?
Disposable personal income is
a. the total income earned by a nation's permanent residents. b. the total income earned by a nation's residents in the production of goods and services. c. the income that households and non-corporate businesses receive. d. the income that households and businesses have remaining after satisfying their obligations to the government.
Briefly explain how unemployment insurance can stabilize the economy. Give an example.
What will be an ideal response?
When a person can pass some of her costs of using a resource on to someone else,
A. she uses too much of the resource. B. the use of the resource is not affected by her actions. C. the internal costs of using the resource exceed the private costs. D. she uses too little of the resource.