What two things does the amount of property income a household earns depend upon?
What will be an ideal response?
The amount of property income a household earns depends upon how much property it owns and what kinds of assets it holds.
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Union work rules may restrict productivity in all of the following ways except
A. Requiring a minimum number of workers for a certain task. B. Limiting the pace of production. C. Restricting the types of jobs a particular individual can do. D. Requiring a maximum number of workers for a certain task.
Which of the following offers the best example of a positive externality?
a. A coastal dairy farmer's undeveloped land offers unimpeded views of the ocean for a nearby neighborhood. b. A pulp mill emits chlorine pollution into the water, harming members of society. c. A welding shop makes a lot of noise, reducing the property values of nearby homes. d. A person goes to a store and pay $0.75 for a candy bar that he can eat.
Refer to the above diagram. If this is a competitive market, price and quantity will move toward:
A. $20 and 150, respectively. B. $60 and 200, respectively. C. $60 and 100, respectively. D. $40 and 150, respectively.
When the price level is below the level at which the aggregate demand curve crosses the long run aggregate supply curve
A. actual real GDP would be less than total planned real expenditures, and the price level will rise. B. there will be pressures that will lead to a shift of either the aggregate demand or the long run aggregate supply curves. C. actual real GDP would exceed total planned real expenditures, and the price level will fall. D. there will be no price level change.