More than 70 percent of national income can be attributed to:
a. compensation of employees.
b. rental income.
c. corporate profit.
d. net interest.
e. proprietors' income.
a
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Which of the following will cause a decrease in consumer surplus?
a. an increase in the number of sellers of the good b. a decrease in the production cost of the good c. sellers expect the price of the good to be lower next month d. the imposition of a binding price floor in the market
Which of the following statements is not true?
a. growing employment in retailing and restaurants contributes to the wage decline of high school graduates. b. the decline in union membership has contributed to income inequality. c. the increased use of technology in manufacturing has increased income inequality. d. since service industries are less likely to use technology, they are more likely to be unionized.