In the United States, labor earnings are about what percent of total income?

The marginal social cost of production is the

A) marginal private cost plus the marginal external cost. B) same as the marginal cost of any externality. C) total cost of any externality. D) marginal private cost minus the marginal external cost.

If the money supply is $2 trillion and velocity is 5, then nominal GDP is

A) $1 trillion. B) $2 trillion. C) $5 trillion. D) $10 trillion.