Disposable personal income equals personal income
A) minus personal tax payments.
B) plus government transfer payments.
C) minus personal tax payments plus government transfer payments.
D) minus government transfer payments plus personal tax payments.
Answer: A
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A curve that is derived by summing horizontally individual supply curves is called:
a. aggregate demand. b. aggregate supply. c. market demand. d. market supply.
If the multiplier is 5.25, then the MPC is
a. 0.19. b. 0.68. c. 0.81. d. 0.84.
The paradox of thrift suggests that
A. "a penny saved is a penny earned." B. as consumption increases, saving decreases. C. the less you pay, the lower the satisfaction. D. attempts to save more may actually reduce total saving.
Stagflation refers to
A) a reduction in inflation. B) a simultaneous reduction in inflation and reduction in unemployment. C) a liquidity trap. D) reduction in the price level and a reduction in the unemployment rate. E) none of the above