Disposable income can be defined as national product
a. minus federal and state taxes.
b. minus taxes plus transfers.
c. minus indirect taxes.
d. plus taxes plus transfers.
b
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In what ways is the government debt a burden on future generations?
What will be an ideal response?
After firm A acquired firm B, it lowered the prices for the goods produced by both firms. This can increase profits if the goods are
a. Substitutes b. Complements c. Not related d. None of the above
Average physical product measures the increase in total output that results from a one-unit increase in an input
a. True b. False Indicate whether the statement is true or false
Knowing how to translate between present and future value can be useful when:
A. the benefits and opportunity cost occur at different times. B. there are no benefits and costs. C. there are benefits and costs occurring at the same time. D. the current costs are higher than the present benefits.