It is not true of profits that they
A. are what remains from the selling price after factors have been paid.
B. accrue to entrepreneurs.
C. account for a relatively small portion of national income.
D. account for about as much national income as wages and salaries.
Answer: D
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Unemployment insurance tends to lead to the unemployed worker spending less time unemployed
Indicate whether the statement is true or false
One problem with the effectiveness of Pigovian taxes is:
A. knowing whether to impose it on the consumer or producer. B. knowing what the value of the tax should be. C. identifying those who are affected by the externality. D. none of these are problems.
Average income in some East Asian countries, as measured by real GDP per person, has recently grown at an average annual rate that implies income will double about every
a. 10 years. b. 15 years. c. 20 years. d. 25 years.
When the expected value of search increases:
A. the cost of searching falls. B. fewer searches occur. C. more searches occur. D. the number of searches does not change.