A doctor pursuing his own interests rather than the interests of his patients is an example of the principal-agent problem

The imposition of tariffs on imports results in deadweight (triangle) losses. These are

A) production and consumption distortion effects. B) redistribution effects. C) revenue effects D) efficiency effects. E) distortion of incentives.

Which national income account should be examined to discover trends in the after-tax income that people have to save and spend?

a. Gross domestic product (GDP). b. Personal income (PI). c. National income (NI). d. Disposable personal income (DI).