Dividends, retained earnings, and corporate income taxes sum to which of the income categories in the income approach to computing GDP?
A. corporate profits
B. net interest
C. indirect business taxes
D. compensation of employees
Answer: A
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In the short run, if a firm shuts down its maximum loss equals the amount of its fixed cost
Indicate whether the statement is true or false
An negative externality is present whenever:
a. the private marginal cost of an activity exceeds the private marginal benefit. b. the private marginal benefit of an activity exceeds the private marginal cost. c. the social marginal cost of an activity exceeds the private marginal cost. d. none of the above
The assignment rule says that, with fixed exchange rates, fiscal policy should be used to stabilize the balance of payments and monetary policy should be used to stabilize the domestic economy.
Answer the following statement true (T) or false (F)
Suppose the market wage rate for whites is $18 an hour and the monetary value a prejudiced employer attaches to the disutility of hiring African-Americans is $3. This employer will be indifferent between hiring African-Americans and whites only when the African-American wage rate is:
A. $3 B. $12 C. $15 D. $21