Net Foreign Factor Income - $8 Corporate Profits - 47 Gross Private Domestic Investment - 73 Proprietors' Income - 46 Dividends - 13 Consumption Of Fixed Capital - 41 Social Security Contributions - 10 US Exports - 23 Government Purchases - 97 Personal Consumption Expenditures - 314 Transfer Payments - 27 Imports of the US - 24 Personal Taxes - 46 Corporate Income Taxes - 23 Taxes on Production and Imports - 50 Interest - 16 Undistributed Corporate Profits -11 Statistical Discrepancy - 66 Refer to the accompanying national income statistics (in billions of dollars). Personal income is .

Self-interest achieve society’s economic goals because producers know which goods consumers want the most. as consumers and producers exercise their freedom to act in their own self-interest, markets will produce the desired goods at the lowest possible cost. consumers and producers both operate based on society’s economic goals. consumers know which goods can be produced at the lowest cost. there is a wide variety of desired goods and services in a market system because producers determine what to produce. consumers change their minds frequently. there is always a need to produce something new and improved. individual wants are diverse. what is produced is ultimately determined by consumers, because if the goods offered are not what consumers want, consumers will not buy them. producers, because they are driven by profits. producers, because they determine what to produce. consumers, because they participate in marketing surveys.

20. to add body to a hearty broth, you may use a. onions. b. pasta. c. cheese. d. water.

Firms like papa john’s, domino’s, and pizza hut sell pizza and other products that are differentiated in nature. while numerous pizza chains exist in most locations, the differentiated nature of these firms’ products permits them to charge prices above marginal cost. given these observations, is the pizza industry most likely a monopoly, perfectly competitive, monopolistically competitive, or an oligopoly industry?