Caleb teaches economics at Yucky State University and is paid $50,000 per year. He also provides economic forecasts for local business for which he charges $100 per hour. Which of the following is true?
a. all of Caleb's income is salary
b. some of Caleb's income is salary and some is personal interest
c. all of Caleb's income is proprietor's income
d. some of Caleb's income is salary and some is proprietor's income
e. all of Caleb's income is personal interest
D
You might also like to view...
The bond demand curve slopes down because
A) interest rates decline as bond prices decline. B) when bond prices are low, inflation is low. C) the lender is willing and able to purchase more bonds when the price of the bond is low. D) the borrower is willing and able to purchase more bonds when the price of the bond is low.
Income elasticity will be positive for:
A. all normal goods. B. all inferior goods. C. only necessities. D. only luxury goods with substitutes.
Crowding out can best be defined as:
a. private investment increases growth rates and decreases deficits. b. restrictive monetary policy raises interest rates and decreases investment. c. government deficits increase interest rates and decrease investment. d. consumption spending increases interest rates and decreases investment.
Opponents of government intervention in the economy argue that externalities:
A. do not create problems for the model. B. may not be effectively corrected by the government. C. are themselves the inevitable result of government policies. D. should be corrected with regulations rather than subsidies.