National income is defined as
a. the total income of a nation's permanent residents minus losses from depreciation.
b. the income that households and noncorporate businesses receive.
c. the total income earned by a nation's permanent residents in the production of goods and services.
d. the income that households and noncorporate businesses have left after satisfying all their obligations to the government.
c
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When Sam's Scarves uses 2 knitting machines and employs 3 people, total revenue is $330 a day. When Sam's Scarves uses 2 knitting machines and employs 4 people, total revenue is $360 a day
The value of marginal product of the third worker is ________. A) $110 B) $30 C) $360 D) $90
Money income is
A) market income plus cash payments from government. B) equal to market income. C) market income plus cash payments from government minus taxes. D) market income minus taxes.
Refer to Scenario 13.1. At your negotiated price your consumer surplus is:
A) $50. B) $200. C) $250. D) $300.
In long-term job attachments, a worker's wage:
a. always exceeds his productivity. b. always falls below his productivity. c. is lower than his productivity at the beginning, then equals it, and then exceeds the same. d. is higher than his productivity at the beginning, then equals it, and then falls below the same.