What is the difference between national income and personal income?
A. Personal taxes.
B. National income includes income earned both in the United States and abroad, while
personal income only includes that income earned within the borders of the United States.
C. National income represents before-tax income, while personal income measures how
much is available for spending after all taxes have been subtracted.
D. National income represents income earned by American-owned resources, while personal
income measures received income, whether earned or unearned.
D. National income represents income earned by American-owned resources, while personal
income measures received income, whether earned or unearned.
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Suppose the measured unemployment rate is 6.1% and the true natural rate of unemployment is 5.1%. If the chair of the Fed believes the natural rate of unemployment to be 6.7%, then the chair will
A) stimulate the economy when it should be slowed. B) slow the economy when it should be stimulated. C) stimulate the economy, exactly as called for. D) slow the economy, exactly as called for.
What percentage of U.S. healthcare expenditures is currently paid for by a third party, either the government or an insurance company?
a. less than 10 percent b. approximately 30 percent c. approximately 50 percent d. more than 85 percent