All of the following statements are true regarding voluntary production reduction programs EXCEPT
A. they offer firms incentives to reduce their production voluntarily.
B. they include payments to producers who reduce production.
C. they are an attempt to limit supply.
D. they are an attempt to protect consumers from high prices.
D. they are an attempt to protect consumers from high prices.
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If you're interested in deriving national income, add up
a. compensation for employees, interest, rent, corporate profit, and proprietors' income b. compensation for employees, interest, rent, corporate profit, and transfer payments c. compensation for employees, interest, rent, proprietors' income, and indirect business taxes d. compensation for employees, interest, rent, corporate profits, and capital depreciation e. compensation for employees, rent, corporate profits, proprietors' income, and transfer payments
An example of a deficit item on the U.S. balance of payments is
A) the sale of a spark plug made by a U.S. firm in Michigan to a Nissan plant in Tennessee. B) the purchase of Japanese yen by a U.S. firm. C) a deposit in a bank in Chicago by the government of Saudi Arabia. D) the payment of a dividend by a British firm to a U.S. family.