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Q1. Disposable personal income equals personal income
a. minus government transfer payments plus personal tax payments.
b. plus government transfer payments.
c. minus personal tax payments plus government transfer payments.
d. minus personal tax payments.
Q2. What two factors are the keys to determining labour productivity?
a. the average level of education of the workforce and the price level
b. the business cycle and the growth rate of real GDP
c. technology and the quantity of capital per hour worked
d. the growth rate of real GDP and the interest rate.
Draw the production possibility curve and a. Define consumer surplus and producer surplus.
Depict the von Neumann-Morgenstern utility index u in a diagram
In an effort to provide tax relief for households while still balancing the budget, Congress votes to raise business taxes and decrease personal taxes.
A local community voting to raise property taxes to increase school expenditures
Analyze the USA financial meltdown that happened in 2008-2009. This crisis was partially caused by the reward systems that were in place for participants in the financial system. Identify the major participants in the financial system.
The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled
Why do celebrity icons receive such widespread attention and adulation
Indicate if GDP is affected, under what category and what happens to GDP Oklahoma cleans up after a devastating tornado.
Explain how the short-run Phillips curve, the long-run Phillips curve, the short-run aggregate supply curve, the long-run aggregate supply curve, and the natural rate hypothesis are all related.
Explain what occurs when a new technology makes another one obsolete in terms of economic profit.
Explain the role culture may play in influencing entrepreneurship both at the individual and social level. Define culture in your response.
Assume that the industry wants to expand and has to make some long-term capital budgeting decisions. Now the industry is confronted with government regulations to oversee the merger.
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