Labor income includes:
A. interest, dividends, and rent.
B. wages, salaries, and earnings of the self-employed.
C. payments to owners of factories, machines, and buildings.
D. profits, royalties, and rent.
Answer: B
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Tax policy conducted for the purpose of achieving full employment, price stability, or economic growth is an example of
A) discretionary fiscal policy. B) interest-rate policy. C) monetary policy. D) exchange-rate policy.
Referring to the graph above, an economic variable that had peaked in December 1912, November 1914, and February 1918 is likely a ________ variable
A) leading countercyclical B) leading procyclical C) lagging countercyclical D) lagging procyclical E) none of the above
Checkable deposits are money because they are:
A. acceptable in exchange. B. legal tender. C. fiat money. D. token money.
The demand for labor curve is derived from the:
A) total product of labor. B) supply curve for labor. C) average product of labor. D) value of marginal product of labor.