Disposable personal income is equal to
A. Gross Domestic Product (GDP) minus depreciation.
B. personal income plus transfer payments.
C. national income minus personal income taxes.
D. personal income minus personal income tax payments.
Answer: D
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The labor force participation rate shows the percentage of
A) people not working, but who want to work. B) people who are not actively participating in meaningful economic activity. C) new entrants into the labor force. D) non-institutionalized working-age people who are actually working or seeking employment.
The cost of holding money balances increases when
a. the inflation rate decreases. b. the nominal interest rate increases. c. the nominal interest rate decreases. d. nominal GDP is far from full employment.
Explain why it is not necessary for paper money to be backed by some commodity (e.g. gold) before it can have value
Neoclassical growth theory does not emphasize how __________ contribute to growth
A) the quantity of capital B) technological changes C) the quantity of labor D) factors limiting population growth E) a and c