Consider the Simplest Macro Model with a Constant Price Level

question 55

Multiple Choice

Consider the simplest macro model with a constant price level and demand-determined output.If national income is less than its equilibrium level,it is likely that firms' inventories are ________,and so national income tends to ________.

• A)accumulating; rise
• B)accumulating; fall
• C)being depleted; rise
• D)being depleted; fall
• E)constant; fall

Know the elements that comprise the team performance equation and how actual productivity is determined.

Understand the nuanced effects of team size on performance, support perception, and motivation.

Understand the factors that contribute to learning curves and expertise development.

Recognize the role of social presence and audience effects on performance improvement.

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Definitions:

Taxable Fringe Benefits

Benefits provided by an employer to an employee, which are considered taxable income for the employee, such as personal use of a company car.

FUTA Tax

Federal Unemployment Tax Act tax, a payroll tax paid by employers to fund state workforce agencies and unemployment insurance for workers who have lost their jobs.

State Unemployment Taxes

Taxes imposed by state governments on businesses based on the amount of wages paid to employees, used to fund unemployment compensation benefits for workers who have lost their jobs.

Withholding Allowances

Claims made on a W-4 form that determine the amount of an employee’s income not subject to federal income tax withholding.