The income that people receive is called:
a. national income.
b. personal income.
c. disposable personal income.
d. transfer payments.
b
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When land across the mountains became available in the early nineteenth century,
(a) much of New England was simply abandoned by people primarily interested in farming. (b) live-stock raising, dairying and lumbering kept rural New England from being totally abandoned. (c) very few New England farmers elected to stay in New England. (d) Manufacturing quickly replaced New England farming.
Which of the following refers to extremely high rates of inflation for sustained periods of time?
a. deflation b. hyperinflation c. bust d. depression
The presumed objective of the U.S. corporation is to maximize
a. Stakeholder value b. Shareholder value c. Profits before taxes d. The sum of shareholder and stakeholder value e. None of the above
Suppose P = 20 ? 2Q is the market demand function for a local monopoly. The marginal cost is 2Q. The local monopoly tries to maximize its profits by equating MC = MR and charging a uniform price. What will be the equilibrium price and output?
A. $13.33, 3.33 units B. $10, 5 units C. $6.33, 5 units D. $6.33, 3.33 units