Standard Census data on the distribution of income:
A. take all taxes and transfer payments into account.
B. are before taxes in that they do not account for personal income and payroll taxes.
C. include noncash transfers.
D. exclude cash transfers.
Answer: B
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If saving equals $200 when real disposable income equals $1,000, the break-even income is
A) less than $1,000. B) greater than $1,000. C) equal to $1,000. D) equal to $1,200.
According to the monetarists, deliberate government intervention:
a. will stabilize the economy if the money supply is increased during recessions and decreased during expansions. b. will effectively reduce the unemployment rate below its natural rate. c. will stabilize the economy if the money supply is reduced during recessions and increased during expansions. d. will destabilize the economy only if the government uses fiscal policy to change equilibrium income. e. will destabilize the economy and cause a business cycle of its own, regardless of whether fiscal or monetary policy is used.