Wages and salaries (including wage supplements) accounted for ________ of personal income in the United States in 2017.
A. 37%
B. 50%
C. 63%
D. 90%
Answer: C
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The price of a goods falls and you discover that you can eat more of the goods because they are cheaper than other goods
a. surplus efficiency. b. latent efficiency. c. demand efficiency. d. production efficiency. e. none of the above
The federal funds rate
A) is determined directly by firm demand for funds. B) is determined administratively by the Fed. C) is determined directly by household demand for funds. D) is determined by the supply of and demand for bank reserves.
Using the textbook's production function, an increase in A requires that one percent more labor working with ________ capital produces more ________
A) an unchanged amount of, real GDP B) an unchanged amount of, real GDP per labor input C) one percent more, real GDP D) one percent more, real GDP per labor input
Which of the following qualify as part of our economy's capital income?
a. wages paid to workers b. interest paid to the owners of corporate bonds c. rent paid on farmland d. All of the above are correct.