Income in kind is defined as
A. income received in the form of goods and services.
B. income received in the form of a paycheck.
C. tips.
D. payment for services in the form of cash.
Answer: A
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Long-run economic growth requires all of the following except
A) government provision of secure property rights. B) political instability. C) technological change. D) increases in capital per hour worked.
Refer to the table shown, which shows the demand schedule for a product sold by a monopolist. Marginal revenue is negative:Price of product($)Quantity demanded per year$143$124$105$86$67
A. when price is above $10. B. for every price. C. when price is $10. D. when price is below $10.
Most economists agree that fiscal policy:
A. should not be used to eliminate economic fluctuations, no matter how large or small. B. cannot be used to fine tune the economy. C. can be used to fine tune the economy. D. can be used to eliminate most if not all economic fluctuations.
Suppose that the income elasticity of demand for new clothes is positive. Other things being equal, which of the following statements is correct?
A. New clothes are a normal good. B. The quantity demanded of new clothes decreases as a consumer's income declines. C. There exists a positive relationship between income and the demand for new clothes. D. All of these