All of the following are incomes earned in the factor market EXCEPT
A. prices of goods and services.
B. rents.
C. profits.
D. wages.
Answer: A
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Decreases in taxes shift the aggregate demand curve to the right
Indicate whether the statement is true or false
Efficiency is attained when
a. total surplus is maximized. b. producer surplus is maximized. c. all resources are being used. d. consumer surplus is maximized and producer surplus is minimized.
Why would a landlord most likely give a tenant an incentive to leave a rent-controlled apartment?
a. to attract tenants will lower incomes b. to remodel the apartment and list it at a higher rent c. to provide the tenant with start-up money for a business d. to repair the apartment so it will pass the government code
What is a fringe benefit?
a. a cash payment for casual work b. a business other than sales or marketing c. a payment other than wages or salaries d. an accounting term meaning profits