Which of the following best defines national income?
A. Income received by households less personal taxes.
B. The before-tax income received by households.
C. Incomes earned by U.S. resource suppliers plus taxes on production and imports.
D. The market value of the annual output net of consumption of fixed capital.
C. Incomes earned by U.S. resource suppliers plus taxes on production and imports.
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The ________ real GDP, the ________
A) larger; larger the demand for money B) larger; smaller the demand for money C) larger; larger the supply of money D) smaller; larger the demand for money E) larger; smaller the supply of money
During the recession of 2007–2008 in the United States, _____
a. the unemployment rate for men was higher than for women b. the unemployment rate for women was higher than for men c. the frictional unemployment rate was very low d. the structural unemployment rate for women was very high