Assume that the interest rate on the loanable funds market is 10 percent. If rock star Joni Jackson enjoys performing so much that she would do it for free, yet earns $10 million a year, her annual wage-related rent is
a. $10 million
b. $1 million
c. $0
d. $100 million
e. $9 million
A
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An increase in taxes
a. raises aggregate expenditure by raising national income, thereby increasing consumption b. raises aggregate expenditure by raising national income, thereby decreasing consumption c. lowers aggregate expenditure by lowering national income, thereby increasing consumption d. lowers aggregate expenditure by decreasing consumption, thereby lowering national income e. has no effect on aggregate expenditure
The United States has more income inequality than Japan, Germany, and France
a. True b. False Indicate whether the statement is true or false
The process of producing and accumulating capital goods is called:
A. money capital. B. depreciation. C. investment. D. consumption.
If the minimum wage law sets a price floor that is below the equilibrium wage in the unskilled labor market, the minimum wage will create a shortage of unskilled labor
Indicate whether the statement is true or false