Interest income is
a. the largest component of national income
b. interest received by individuals for providing capital to the resource market
c. the most stable component of national income
d. capital
e. part of the expenditure approach to GDP accounting
B
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A U.S. tariff on textiles would ________ U.S. clothing prices and ________ jobs in the U.S. textile industry
A) reduce; decrease B) reduce; increase C) raise; decrease D) raise; increase
In order for a firm to be able to price discriminate it must not be a price taker, there must be different demand from different groups of consumers, and there must be an ability to prevent resale
a. True b. False Indicate whether the statement is true or false
Mutually beneficial trade is possible because of differing marginal utilities
a. True b. False Indicate whether the statement is true or false
Goods that are rival in consumption, but not excludable are:
A. a common resource. B. a public good. C. an artificially scarce good. D. a private good.