If you take national income and add transfer payments, then subtract income earned but not received, the result will be
A. disposable personal income.
B. wages.
C. personal income.
D. net national product.
Answer: C
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In 1995 ________, which was established in 1948, was replaced by ________
A) NAFTA; the Smoot-Hawley Tariff B) the WTO; NAFTA C) the GATT; the WTO D) the Smoot-Hawley Tariff; the GATT
Garrison is the chief financial officer (CFO) of the Colorado Drone manufacturing company and is also on the company's board of directors. Garrison is considered ________ of the company
A) a bondholder B) an inside director C) a financier D) an outside director
The direct exchange of one good for another
A. Is most efficient for an economy. B. Facilitates market exchanges. C. Is barter. D. Facilitates specialization in production.
Competitive markets will generally produce
A) too much of a public good. B) too little of a public good. C) the efficient amount of a public good. D) the efficient amount of a public good in the short run, but not in the long run.