To reduce personal income to disposable personal income,
a. indirect business taxes are deducted.
b. corporate income taxes are deducted.
c. personal taxes are deducted.
d. All of these.
c. personal taxes are deducted.
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Externalities
A) are not reflected in market prices, so they can be a source of economic inefficiency. B) do become reflected in market prices, so they can be a source of economic inefficiency. C) are not reflected in market prices, so they do not adversely affect economic efficiency. D) do become reflected in market prices, so they do not adversely affect economic efficiency. E) may or may not become reflected in market prices, but do not have an impact on economic efficiency in either event.
With few applicants and several key positions to fill, the owner of a computer support company increased the starting wage offered from $20.00 to $25.00 per hour. With the higher wage, there were more qualified applicants than needed, and all the positions were filled. What is true of the increased wage offer?
a. It sets $25.00 as the equilibrium wage. b. It establishes the equilibrium quantity. c. It attracted a surplus of labor. d. The quantity demanded exceeded the quantity supplied.