National income is the sum of
a. wages and profits.
b. wages, interest, profits, and rent.
c. interest and rent.
d. wages, transfer payments, and tax revenues.
b
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Which of the following is a true statement about crises caused by volatile capital flows?
A) Volatile capital flows rarely cause contagion effects. B) Technological advances have increased the volatility of capital flows. C) Exchange rates appreciate when there are capital outflows. D) Budget deficits decrease when there are capital outflows.
Which of the following is a positive economic statement?
A) We should raise the minimum wage in order to provide a decent wage for more people. B) Consumers bought fewer cars when the relative price of cars increased. C) The budget deficit has been rising in recent years. D) Federal government spending ought to be curtailed. E) b and c