National income is
a. personal income of individuals minus the taxes they pay.
b. gross national product minus depreciation.
c. employee compensation, self-employment income, interest, rents, plus corporate profits.
d. consumption, investment, government expenditures, and net exports.
C
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What economic impact would the closing of a nearby military base have on a town? Would people and businesses that did not directly deal with the military personnel be affected?
What will be an ideal response?
If aggregate demand increases and expectations regarding inflation remain constant
A. the short-run Phillips curve shifts to the left. B. the short-run Phillips curve shifts to the right. C. the economy moves along the short-run Phillips curve. D. the long-run Phillips curve shifts to the right.