A variable that responds to a change in another variable is called a(n) _______ variable.
A) independent
B) dependent
C) theoretical
D) all of the above are true
Ans: B) dependent
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The respective payments for the resources of natural resources, labor, capital, and entrepreneurial ability are
a. interest, wages, profit, and rent b. profit, rent, interest, and wages c. rent, wages, profit, and interest d. interest, profit, wages, and rent e. rent, wages, interest, and profit
Which of the following will not increase the demand for iced tea?
a. an increase in advertising that makes drinking iced tea more appealing b. an increase in the price of iced coffee, a substitute product c. an increase in the income of consumers (assume that iced tea is a normal good) d. a decrease in the price of iced tea
Based on the graphic showing the Lorenz Curve, what percentage of total income did the lowest 40 percent of households receive in 2017?
a. 3.8
b. 9.2
c. 13.0
d. 40.0
Social Security payments to retired persons are included in
A. National income but not personal income. B. National income and subtracted to get personal income. C. Both GDP and personal income. D. Personal income and disposable income.