Personal income is defined as
A) national income less retained earnings plus transfer payments and plus interest on government bonds.
B) national income plus retained earnings less transfer payments and less interest on government bonds.
C) national income less depreciation.
D) national income less personal taxes.
Answer: A
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In the long run, the beneficiaries of farm price supports are
a. tenant farmers b. consumers c. taxpayers d. milk drinkers e. early owners of specialized resources
In the following question you are asked to determine, other things equal, the effects of a given change in a determinant of demand or supply for product X upon (1) the demand (D) for, or supply (S) of, X; (2) the equilibrium price (P) of X; and (3) the
equilibrium quantity (Q) of X. Refer to the given information. An increase in income, if X is a normal good, will: A. increase D, increase P, and increase Q. B. increase D, increase P, and decrease Q. C. increase S, increase P, and increase Q. D. decrease D, increase P, and increase Q.
Making "soft loans"—loans which may not be self-liquidating—to the very poorest of the developing countries on relatively liberal terms is the primary function of the:
A. United Nations B. International Finance Corporation C. New Global Compact D. International Development Association
Cost curves shift if i. technology changes. ii. the prices of factors of production change. iii. productivity changes
A) only i B) i and iii C) only ii D) i and ii E) i, ii, and iii