National income equals

A. net national product minus taxes on production and imports and employer contributions to Social Security.
B. net national product minus statistical discrepancy.
C. gross national product minus depreciation.
D. GNP minus depreciation and taxes on production and imports.


Answer: B

Economics

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Which function of money allows consumers who are searching for a new car to compare the costs of different optional features of different cars in order to determine if they want the features or not?

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As inflation increases, for any fixed nominal interest rate, the real interest rate:

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Economics