Income earned by the factors of production is called
A. gross domestic income.
B. disposable personal income.
C. national income.
D. personal income.
Answer: C
You might also like to view...
When the coupon rate on newly issued bonds ________ relative to older, outstanding bonds, the market price of the older bond ________
A) increases; rises in the secondary market B) increases; falls in the secondary market C) decreases; falls in the primary market D) decreases; falls in the secondary market
The concept of opportunity cost exists because
A) of scarcity. B) goods have different prices. C) of shortages. D) the value of services is hard to determine.
In the short run,
a. all inputs are fixed. b. all inputs are variable. c. some inputs are fixed. d. no production occurs.
According to the graph shown, if this economy were to open to trade, domestic producers would have to cut:
This graph demonstrates the domestic demand and supply for a good, as well as the world price for that good.
A. production by 55 units.
B. production by 90 units.
C. prices by $3.
D. prices by $7.