To get personal income from national income, one must:
a. subtract out retained earnings, Social Security taxes, and transfer payments, and add in corporate business taxes.
b. subtract corporate profits and Social Security taxes, and add in transfer payments and other income.
c. subtract retained earnings, corporate business taxes, and transfer payments, and add in Social Security taxes.
d. subtract out corporate business taxes, Social Security taxes and transfer payments, and add in retained earnings.
b
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If pollution levels exceed the socially efficient level: a. the marginal cost of pollution abatement exceeds the marginal benefit of pollution abatement
b. the marginal cost of pollution abatement is less than the marginal benefit of pollution abatement. c. the marginal cost of pollution abatement equals the marginal benefit of pollution abatement. d. nothing can be said about the relationship between the marginal cost and marginal benefit of pollution abatement.
A decrease in government spending would
a. lower the interest rate, which is unlikely to influence private investment spending b. raise the interest rate and decrease private investment spending c. lower the interest rate and decrease private investment spending d. raise the interest rate and increase private investment spending e. lower the interest rate and increase private investment spending
Programs to equalize household income would most harm ______.
a. medium-income single people b. low-income large families c. low-income married couples d. high-income large families
In graph 1, the quantity shifts from q1 to q2. What change in graph 2 causes this to happen?
a. Demand decreases.
b. Demand increases.
c. Supply decreases.
d. Supply increases.