The dollar value of final output
A) is equal to total income. B) is less than total income.
C) equals profits. D) is greater than total income.
A
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Total expenditure equals total income
A) if firms do not save for future investment. B) if firms earn zero profit. C) because firms pay out everything they receive as income to the factors of production. D) only if net taxes equals government expenditures on goods and services. E) only if firms sell all the goods they produce in a given time period.
What would be the effect of a reduction in the corporate profits tax?
a. Investment would decrease, the production function would shift downward, productivity would decrease, and so would output. b. Investment would increase, the production function would shift upward, productivity would increase and output would decrease. c. Investment would increase, the production function would shift upward, and both productivity and output would increase. d. Investment would decrease, the production function would shift downward, and both productivity and output would increase. e. Investment would increase, the production function would shift upward, productivity would decrease and output would increase.
Which of the following was established first?
a. gatt b. nafta c. wto d. a and b were established at the same time
Which of the following statements is most correct?
A. Money is a means of payment but is not part of wealth. B. Money is wealth but not all wealth is money. C. In order to be considered part of a person's wealth, an asset must have a positive return. D. Wealth is a store of value and a means of payment.