Why are transfer payments included in personal income but not in national income? Are transfer payments included in GDP?
National income is what people earn, while personal income includes income people receive, regardless of
how much they actually earn. Transfer payments represent income received but not earned, and so must be
excluded from national income and included in personal income. Since transfer payments don't represent
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Refer to Table 11-3. Use the table above to calculate the annual growth rate in GDP. Also calculate the total percentage change in the growth from 2013 through 2016
Explain the difference between the average annual growth rate in real per capita GDP from 2013 through 2016 and the total percentage change in growth from 2013 and 2016.
Who hires the managers of a corporation?
A) employees B) stockholders C) managers D) the board of directors
Quantitative easing is a central bank policy that attempts to stimulate the economy by possibly
A) selling treasury securities. B) making discount loans to nonfinancial corporations. C) slowly reducing the required reserve ratio. D) buying long-term securities.
The monetarists totally reject the importance of changes in the money stock as determinants of changes in real GDP, the price level, and employment
a. True b. False Indicate whether the statement is true or false