Household income after taxes is called:
a. national income

A condition necessary for a country to achieve economic growth is

A) high tax rates so the government can purchase a lot of capital equipment. B) strict environmental regulations. C) economic freedom. D) government control of the banking system. E) democracy.

A real cost of tariffs and quotas that is difficult to measure is that they

A) encourage rent seeking. B) shift income from consumers to producers. C) limit the quantity of imports. D) reduce wages. E) cause deflation.