If you intend to begin jogging one week from today, and next week tell yourself you'll begin in another week, your preferences are:
A. revealed from your actions.
B. more accurate in the future.
C. irrational.
D. time inconsistent.
D. time inconsistent.
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One problem with the unemployment rate is that:
a. discouraged workers are included in the calculation. b. the data includes part-time workers as fully employed. c. underemployment is measured in the calculation. d. all of these are problems.
A good with a high income elasticity is generally considered to be
a. an inferior good. b. a luxury good. c. a necessity. d. inexpensive, relative to other goods.
Wages and salaries (including wage supplements) accounted for ________ of personal income in the United States in 2017.
A. 37% B. 50% C. 63% D. 90%
In the long run, an increase in the individual income tax rate with no change in the corporate profits tax will lead to ________ profits in the corporate sector and ________ profits in the noncorporate sector.
A. higher; higher B. lower; lower C. higher; lower D. lower; higher