Transfer payments are about ____ percent of U.S. domestic output (as of 2012)
A. 35
B. 8
C. 15
D. 22
Answer: C
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Which of the following are two components of the opportunity cost of using capital already owned by the firm?
A) economic profit and normal profit B) implicit rental rate and economic profit C) explicit rental rate and economic costs D) economic depreciation and forgone interest
A Supreme Court ruling in March 1996 held that
A) state laws to prevent banks from selling insurance can be superseded by federal rulings from banking regulators that allow banks to sell insurance. B) state laws to prevent banks from selling insurance cannot be superseded by federal rulings from banking regulators that allow banks to sell insurance. C) state laws to prevent banks from selling insurance can be superseded only if Congress enacts legislation that allow banks to sell insurance. D) state laws to prevent banks from selling insurance cannot be superseded by federal legislation.
A subprime mortgage is: a. a mortgage in which the borrower gets an interest rate below the prime rate. b. a mortgage in which the interest rate is adjustable
c. a mortgage for which the home is valued below its true market value. d. a mortgage in which the borrower has a poor credit rating. e. a mortgage for a home that was in foreclosure.
The equation of exchange
A. always balances. B. usually balances. C. sometimes balances. D. never balances.