National income, plus income received but not earned, minus income earned but not received, is
a. personal income
b. personal disposable income
c. pre-tax profit
d. net national product
e. capital depreciation
A
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By restricting the amount of precious metals going into the colonies, the British significantly hindered economic growth in colonial America
Indicate whether the statement is true or false
With fixed costs of $200, a firm has average total costs of $5 and average variable costs of $3 . Its output is: a. 66.67 units
b. Need more information c. 100 units. d. 40 units.
The above figure shows a nation's production function. Point A is
A) the maximum amount of real GDP the nation can produce. B) the labor market equilibrium quantity of employment and real GDP. C) attainable if the economy is inefficient. D) attainable if the nation uses resources efficiently. E) unattainable given the state of the economy.
The difference between gross investment and net investment is
A) the capital stock. B) depreciation. C) the real interest rate. D) equal to saving.