The income that measures a household's earnings in the absence of government redistribution is called
A) market income.
B) real income.
C) money income.
D) cash income.
A
You might also like to view...
Three workers run a house painting business and always work the same number of hours together. The paint they use requires applying two coats. Each worker paints 200 square feet per hour using a roller or 80 square feet per hour using a brush. If a technological advance provides a paint that only requires one coat, their average labor productivity per hour as a team:
A. increases. B. remains the same. C. may either increase or decrease. D. decreases.
Based on the table "Real and Nominal GDP," if year one is the base year, then the real GDP in year three, is ________
A) 7200 B) 8250 C) 1050 D) 7500 E) none of the above
The difference between the short-run and the long-run is
A) three months, or one business quarter. B) the time it takes for firms to change all inputs in the production process. C) the time it takes for firms to change only their variable inputs. D) More information is required to answer this question.
The short-run aggregate supply curve is upward sloping for all of the following reasons except:
A. some markets are posted-price markets. B. some firms adjust their markup in response to an increase in demand. C. all inputs are fully utilized in the short run. D. some firms adjust their production in response to an increase in demand.