Which of the following is an example of transitory income?
a. John's $30,000 per year salary as a junior high school science teacher
b. Linda's $40,000 per month income from bond market investments
c. Paul's $15 per week earnings from selling aluminum cans he collects from along the side of the road
d. Ringo's $100 prize for winning a radio talk-show contest
e. George's $6,000 per year earnings in his second job, moonlighting as a clerk in a video rental store
D
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One of the possible reasons for high sales and steady profit margins of General Motors, Ford, and Chrysler during 1950s and 1960s were aggressive pricing and design innovations
Indicate whether the statement is true or false
The economic behavior of government is constrained by
a. limited budgets b. the absence of prices on most government output c. moral philosophy of the community d. low voter participation rates e. political self interest
The table above shows the marginal costs and marginal benefits of college education. The marginal private benefit of college education at the efficient amount of enrollment is
A) $20,000 per year. B) $16,000 per year. C) $12,000 per year. D) $14,000 per year.
If the Federal government enacts a new excise tax of $1.50 per case of soda. Which of the following is most likely to occur?
a. Consumers of soda will pay a higher price and buy a larger quantity. b. Consumers of soda will pay a higher price, which will increase the profits of soda companies, inducing them to sell a larger quantity. c. Consumers of soda will pay a higher price and buy a smaller quantity. d. Consumers of soda will buy less bottled water.