Which of the following equations describes a trade surplus?
a. G < C
b. X > M
c. X > I
d. C < M
b. X > M
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The personal income tax is the single largest source of revenue for the federal government.
Answer the following statement true (T) or false (F)
One interesting aspect of the California Gold Rush was
a. the initial absence of property rights to land. b. the use of indentured servants as a labor force in mines. c. the absence of violence in the gold fields. d. the formation of unions that negotiated wages and hours on behalf of miners. e. Both a and c are correct.
The amount originally lent by a bondholder is called the:
A. coupon payment. B. principle amount. C. dividend. D. risk premium.
Which of the following best describes total fixed cost?
A. Costs that do not vary as output varies. B. Total cost divided by the quantity of output produced. C. Total variable cost divided by the quantity of output produced. D. Total fixed cost divided by the quantity of output produced.