Disposable personal income is the income that
a. households have left after paying taxes and non-tax payments to the government.
b. businesses have left after paying taxes and non-tax payments to the government.
c. households and noncorporate businesses have left after paying taxes and non-tax payments to the government.
d. households and businesses have left after paying taxes and non-tax payments to the government.
c
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If faced with the same cost conditions as a perfectly competitive firm, a monopoly will
a. charge a lower price than the perfectly competitive firm. b. charge a higher price than the perfectly competitive firm. c. charge the same price as the perfectly competitive firm. d. refuse to operate in the short run unless an economic profit can be made.
If a price floor of $23 were placed in the market in the graph shown:
A. some surplus is transferred from consumer to producer.
B. some surplus is transferred from producer to consumer.
C. all producers are better off.
D. all consumers are better off.
An oligopoly is a market in which at least some firms are large enough to influence market price
a. True b. False Indicate whether the statement is true or false
When the housing bubble popped, the effect of the negative demand side shock and the negative supply side shock were the same on:
A. output, causing it to definitely decrease. B. prices, causing them to definitely rise. C. output, causing it to definitely increase. D. prices, causing them to definitely fall.