Most income in the United States is earned by business owners as profit
Indicate whether the statement is true or false
FALSE
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Governments can address the adverse selection problem in the health insurance market by requiring all its citizens to have health insurance
Indicate whether the statement is true or false
The Fisher equation states that the
A) expected real interest rate minus the expected inflation rate equals the nominal interest rate. B) expected inflation rate plus the nominal interest rate equals the expected real interest rate. C) nominal interest rate equals the expected real interest rate plus the expected inflation rate. D) expected real interest rate equals the expected inflation rate minus the nominal interest rate.
A proprietorship is a business
A) with annual sales below $100,000. B) in which the stock of the company is closely held by members of one family. C) which produces a service rather than goods. D) owned by one individual who is responsible legally for the debts of the firm.
For the economy as a whole,
a. income must be greater than expenditure. b. unemployment must rise when GDP rises. c. expenditure must equal income. d. consumption must be greater than investment.