Define economic income. Give at least three examples
What will be an ideal response?
The amount of money a household can spend during a given period without increasing or decreasing its net assets. Wages, salaries, dividends, interest income, transfer payments, rents, and so on are sources of economic income.
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As practiced by book publishers, versioning involves first selling the hardcover edition of a book and then switching to a paperback edition to sell additional copies. As such, this is an application of second-degree price discrimination
Indicate whether the statement is true or false
When government expenditures in a given year exceed tax receipts, there exists
A. a budget surplus. B. a budget deficit. C. public revenue. D. full-employment taxation.
When a particular negative externality affects a very large number of people, it is likely that
a. government will not find it worthwhile to impose a corrective tax. b. private solutions to the problem will dominate any attempt by government to alleviate the problem. c. the solution to externalities suggested by the Coase theorem will work very well. d. the solution to externalities suggested by the Coase theorem will not work.
In 2009 about ________ percent of the states permit branch banking.
A. 40 B. 20 C. 80 D. 60