Which of the following is the best definition of what economists define as total income?
A) payment for labor services
B) payment for labor services and for ownership of other factors of production
C) payment for labor services, for use of other factors of production, and gifts and government transfers
D) inheritance
Answer: C
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What new authority did the ECB receive in 2012?
A) the authority to oversee the banking systems of all member countries B) the ability to set different interest rates in different member countries C) the ability to require that member nations balance their budget D) permission to monetize the debt of member countries
Market barriers imposed on national banks:
a. included both restrictions on mortgages and high capital requirements. b. allowed rural banks to charge higher rates. c. allowed national banks to price discriminate. d. All of the above are correct. e. Only a and b are correct.
Human capital:
A. is always increasing. B. can become outdated or deteriorate. C. is better when acquired as an adult. D. All of these are true.
Which of the following categories of business cycle theories includes the under investment theory?
a. physical. b. monetary. c. psychological. d. spending and saving.