Disposable personal income is equal to personal income minus personal tax payments
Indicate whether the statement is true or false
TRUE
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If the market in the figure above is a profit-maximizing single-price monopoly, the producer surplus is the area ________
A) ABH B) BFGH C) ACG D) BDEH E) ACE
In the (consumption,leisure) space, indifference curves as we have assumed them are
A) downward sloping and bowed out of the origin. B) downward sloping and bowed towards the origin. C) upward sloping and bowed out of the origin. D) upward sloping and bowed towards the origin.
When buyers are reluctant to buy, and sellers are reluctant to sell because both are discouraged by imperfect information, a(n) ______________ can result.
a. asymmetrical market b. thin market c. unbalanced market d. thick market
All else constant, an increase in the supply of money will lead to _______
A) an increase in the equilibrium quantity of money and an increase in the equilibrium price of bonds. B) an increase in the equilibrium quantity of money and a decrease in the equilibrium price of bonds. C) a decrease in the equilibrium quantity of money and an increase in the equilibrium price of bonds. D) a decrease in the equilibrium quantity of money and a decrease in the equilibrium price of bonds.