The measure of what households receive after personal income tax is deducted is

Following World War I and World War II, the United States had a

A) small trade surplus. B) small trade deficit. C) large trade deficit. D) large trade surplus.

If the economy is self-regulating and in a recessionary gap, what happens?

A) Wages rise, the SRAS curve shifts leftward, and both Real GDP and the price level rise. B) Wages fall, the SRAS curve shifts leftward, the price level rises, and Real GDP falls. C) Wages fall, the SRAS curve shifts rightward, and both the price level and Real GDP fall. D) Wages fall, the SRAS curve shifts rightward, the price level falls, and Real GDP rises. E) none of the above