If an economy produces final output worth $5 trillion, then the aggregate income generated by that production:
a. will be $5 trillion
b. will be more than $5 trillion.
c. will be $5 trillion minus taxes.
d. will be less than $5 trillion.
e. will be $5 trillion plus transaction costs.
a
Economics
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For a given level of the money wage, an increase in the price level will cause the
a. supply of labor to rise. b. quantity of labor demanded to rise. c. price of leisure to rise. d. quantity of labor demanded to rise. e. both b and d.
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In 1791, what percentage of America's clothing was homemade?
a. 10%–20% b. 30%–40% c. 60%–80% d. 95% or more
Economics