When depreciation is subtracted from:
a. personal income, we get national income.
b. gross domestic product, we get national income.
c. gross domestic product, we get personal income.
d. disposable personal income, we get gross domestic product.
b
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Refer to Figure 12-2. What happens if the firm produces more than Q4 units?
A) It could make a profit or a loss depending on what happens to demand. B) Its total revenue is increasing faster than its total cost. C) Its profit increases. D) It makes a loss.
Improvements in the productivity of labor will tend to: a. increase the supply of labor
b. increase the demand for labor. c. decrease the supply of labor. d. decrease the demand for labor.
The price that sellers receive after the tax is imposed is
A. $6 B. $10 C. $16 D. $24
Policies favored by the median voter:
a. will not necessarily be the most economically efficient policies b. will likely be favored by candidates c. both of the above d. neither of the above