National income equals GNP
A) less depreciation, less net unilateral transfers, less indirect business taxes.
B) less depreciation, plus net unilateral transfers, plus indirect business taxes.
C) less depreciation, less net unilateral transfers, plus indirect business taxes.
D) plus depreciation, plus net unilateral transfers, less indirect business taxes.
E) less depreciation, plus net unilateral transfers, less indirect business taxes.
E
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For a perfectly competitive firm, marginal revenue product is equal to price minus marginal revenue
a. True b. False Indicate whether the statement is true or false
Which of the following countries has the most equal income distribution?
a. Sweden b. Japan c. United States d. Netherlands
A sandwich shop owner has the following information: P = MR = $4, ATC = $2, AVC = $1, MC = 4, and Q = 500. From this, she can determine:
A. her profits are not being maximized. B. she has earned zero economic profits. C. she has earned economic profits of $1,000. D. she has earned economic profits of $1,500.
A U.S. trade deficit will cause all of the following phenomena except:
A. future interest and profits from assets sold to foreigners must be paid to them. B. U.S. assets will have to be sold to foreigners. C. production must eventually increase. D. future consumption must decrease to pay for the current excess of imports over exports.