Refer to the data. Personal income is:
A. $229.
B. $253.
C. $274.
D. $243.
D. $243.
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In the circular flow model, households derive income from all of the following categories except
a. wages earned by labor b. revenue earned by firms c. profit earned by entrepreneurs d. rent earned by people providing land resources e. interest earned by people providing capital resources
Annuity Due
What will be an ideal response?
Refer to Scenario 25-2. As a result of Kristy's deposit, Bank A's reserves immediately increase by
A) $2,000. B) $8,000. C) $10,000. D) $50,000.
Suppose that government imposes a specific excise tax on product X of $2 per unit and that the price elasticity of supply of X is unitary (coefficient = 1). If the incidence of the tax is such that the consumers of X pay $1.85 of the tax and the
producers pay $0.15, we can conclude that the: A. supply of X is highly inelastic. B. supply of X is highly elastic. C. demand for X is highly inelastic. D. demand for X is highly elastic.