At an interest rate of 6 percent, what would be the present value of receiving $22,000 twelve years from now?

Vertical integration can

A) lower transaction costs due to lower costs of writing and enforcing contracts. B) increase management costs and complexity. C) reduce problems between owners and managers. D) All of the above.

Disposable income is

A. The amount households have left to spend after savings are subtracted. B. After-tax income of households; personal income less personal taxes. C. The amount the household sector earns in producing the GDP. D. Personal income plus income taxes.