Assume that production of a good generates external benefits for others. The equilibrium price of the good will be ____ and the equilibrium quantity ____ for efficient resource allocation

Refer to Table 8-27. What is the level of personal income for this economy?

A) $1,140 billion B) $1,010 billion C) $990 billion D) $860 billion

Which of the following can be considered an income risk?

a. Recession causing loss of pay to employees working in a particular industry b. Fall in employee turnover affecting company profits c. Economic growth resulting in demand-pull inflation d. Stock market boom encouraging investment in risky assets