National income is equal to
A. the sum of all factor payments to resource owners.
B. Gross Domestic Product (GDP) minus indirect business taxes.
C. Gross Domestic Product (GDP) plus depreciation and indirect business taxes.
D. Gross Domestic Product (GDP) minus NDP.
Answer: A
You might also like to view...
If the United States government lowers the income taxes on the wealthiest Americans, while decreasing welfare payments to the poorest Americans, the result will likely be an _____ in efficiency and a ________ in equality in the United States.
Fill in the blank(s) with the appropriate word(s).
Production inefficiency is more likely to occur when the principal has more information about work performance than the agent does
Indicate whether the statement is true or false
The most prestigious stock market in the world is the
A) New York Stock Exchange. B) Chicago Mercantile Exchange. C) London Stock Exchange. D) Tokyo Stock Exchange.
Gasoline prices typically increase in March and October because of required maintenance at refineries. For this reason, it is best to
A. focus on April/November decreases. B. seasonally adjust the data. C. politically adjust the data. D. focus on March/October increases.