National income:
a. represents total wages and salaries in an economy.
b. equals GDP minus indirect business taxes.
c. equals GDP minus depreciation.
d. equals C + I + G + (X ? M).
e. is the value of existing capital stock used up in making goods.
c
You might also like to view...
When people suddenly want to buy something, supply increases.
Answer the following statement true (T) or false (F)
If the price of a movie ticket increases by 4 percent and the quantity of movies demanded falls by 2 percent, the price elasticity of demand is
A) 2.0. B) 4.0. C) 0.5. D) some amount that cannot be determined without more information.
Patents create monopolies by restricting
A) demand. B) prices. C) entry. D) profit.
If a bank has excess reserves of $4,000 and demand deposit liabilities of $100,000, and if the reserve requirement is 15 percent, then the bank has actual reserves of
A) $17,000. B) $19,000. C) $24,000. D) $29,000.