If income is unequally distributed in an economy, increases in GDP may not raise well-being in an economy
Indicate whether the statement is true or false
TRUE
Economics
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In a simple economy without government or foreign trade, any income not consumed is called
A) net investment. B) depreciation. C) saving. D) investment.
Economics
A budget surplus occurs when ________
A) government spending exceeds tax revenue B) tax revenue exceeds government spending C) imports exceed exports D) exports exceed imports
Economics
The most common type of tariff is the ________ tariff.
A) export B) import C) transit D) ad valorem
Economics
The ________ and the ________ determine tax revenues.
A. value of transfer payments; money supply B. money supply; income tax rate C. income tax rate; income of households D. income of households; value of transfer payments
Economics