Income-in-kind is
A) money income.
B) received in the form of goods and services.
C) income in dollars.
D) used to buy goods and services.
Answer: B
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What happens when the government imposes a unit excise tax on a good?
A) The amount of the tax is added to the current equilibrium price. B) The demand for the newly taxed good decreases. C) That good's supply curve shifts down by the amount of the tax. D) The newly taxed good's supply curve shifts vertically upward by the amount of the per-unit tax being levied.
The income in the low-income countries is more unevenly distributed than in middle-income or high-income countries
Indicate whether the statement is true or false
The combination of fiscal policies that would reinforce each other and be most expansionary would be a(n):
a. Decrease in government spending and an increase in taxes b. Increase in government spending and taxes c. Increase in government spending and a decrease in taxes d. Decrease in government spending and taxes
At equilibrium expenditure...
a) consumers' expenditures on goods and services equal firms' purchases of investment goods b) firms hold no inventories of raw materials or final goods c) aggregate planned expenditure equals real GDP d) aggregate planned expenditure equals real GDP minus net exports