Disposable income is defined as
A) national income - transfers + taxes. B) national income + transfers + taxes.
C) national income + transfers - taxes. D) national income - transfers - taxes.
C
You might also like to view...
In the short-run, an increase in the price of raw materials will ________ the price level and ________ real GDP
A) raise; increase B) lower; increase C) lower; decrease D) raise; decrease E) raise; not change
Assume that an insurance company sets a single price for insurance equal to the total medical bills paid by the insurance company divided by the number of its customers. If it pays medical bills of $5,000 for half of its customers and $9,000 for the other half of its customers, the price of insurance will be:
A. $5,000. B. $6,000. C. $7,000. D. $9,000.
The downward slope of the aggregate demand curve shows that
A. an increase in aggregate demand reduces the long-run aggregate supply. B. a higher price level will cause planned purchase rates for final goods and services to be higher. C. a lower price level will cause planned purchase rates for final goods and services to be higher. D. an increase in aggregate demand increases the long-run aggregate supply.
One of the main features of modern societies is an enormous expansion of ____________________, meaning that most people rely on others for products and services.
Fill in the blank(s) with the appropriate word(s).