What is the distribution of national income currently among the owners of the factors of production—land, labor, capital, and entrepreneurship?
What will be an ideal response?
According to the text, in 2013, rent was 4 percent of national income; interest payments accounted for 3.2 percent; corporate profits claimed 14 percent; income from other business proprietorships represented 9.3 percent; and the wage and salary return to labor was about 60 percent of national income.
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Which of the following types of income are subject to FICA taxes?
A. Interest earned on checking accounts B. Business profit from the self-employed C. Inheritance D. Profits earned from dividends
"Hidden" or "disguised" unemployment consists of:
a. involuntary part time work b. loss of overtime c. shortened work hours d. All of the above. e. b and c only
Fannie Mae and Freddie Mac:
a. Are government sponsored entities (GSE) b. Have a mandate to develop a secondary market in U.S. mortgages. c. Suffered severe economic losses and are now under conservatorship. d. All of the above.
Figure 3-19
Refer to . Sellers whose costs are less than price are represented by which line segment?
a.
AC
b.
CE
c.
BC
d.
CD