The total of all planned production for the entire economy is known as
A) aggregate inflation. B) aggregate supply.
C) aggregate expenditures. D) aggregate demand.
B
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The most extensive indexing in the United States is in
a. interest payments on bonds or savings accounts. b. government transfer payments, including Social Security benefits. c. government contracts for military goods. d. escalator clauses in wage and salary contracts.
Which of the following is true?
a. The close link between personal income and provision of productive resources to others provides individuals with a strong incentive to develop skills. b. Income can be taxed away from some and transferred to others without altering the incentive to engage in productive activities. c. Holding technology constant, the size of the economic pie available for distribution among economic participants is fixed. d. In a democratic setting, the government's tax and spending policies can redistribute income without influencing the size of the economic pie. e. Both b and d are correct.
The Bureau of Labor Statistics divides the adult population into two categories: those who are employed and those who are unemployed
a. True b. False Indicate whether the statement is true or false
Recently, the owner of KFC Franchise decided to change how she compensated her top manager. Last year, the manager received a fixed salary of GHC50,000 and KFC made GHC110,000 in profits (excluding the manager’s compensation). She feared that her store’s performance was connected to the top manager shirking on the job and expected that changes to her top manager’s compensation structure would improve sales. Therefore, this year she decided to offer him a fixed salary of $40,000 plus 5 percent of the store’s profit. Since the change, the store is performing much better, and she forecasts profits this year to be $300,000 (again, excluding the manager’s compensation). Assuming the change of compensation is the reason for