Personal income is equal to:
a. NI minus personal income tax.
b. NI minus net factor income from abroad.
c. NI plus income currently earned but not received - income currently received but not earned.
d. NI minus indirect business taxes.
e. NI plus income currently received but not earned - income currently earned but not received.
e
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A method that is technologically inefficient
A) might or might not be economically efficient. B) can never be economically efficient. C) results from failure to calculate the ratio of the cost of labor to the cost of capital. D) means that it uses too much labor and too little capital.
The distribution of income in the United States is skewed so that the mode level of household income is ________ the median household income and the median household income is ________ than the mean household income
A) less than; less than B) less than; greater than C) greater than; greater than D) greater than; less than