Personal income less personal taxes is called:
A) personal disposable income.
B) national income.
C) compensation of employees.
D) savings.
A
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Suppose that a local government decides to provide more funds to the local police department in order for the department to hire additional police officers. Is there an opportunity cost of this action? If so, how would you measure it?
What will be an ideal response?
Refer to Table 19-17. What is nominal GDP in 2011?
A) $3,320 B) $3,690 C) $6,360 D) $7,035
Assume a market is in equilibrium. There is an increase in supply, but no change in demand As a result the equilibrium price ________, and the equilibrium quantity ________
A) rises; increases B) rises; decreases C) rises; does not change D) falls; decreases E) falls; increases
In which of the following groups of people in the U.S. would the incidence of poverty be the greatest?
A. Black families with a female head B. All families of seven or more members C. Farmers and farm laborers D. Families whose head is age 65 or over