National income is derived from gross domestic product by subtracting:
a. transfer payments.
b. profits.
c. an allowance for depreciation of capital equipment.
d. net exports.
c
Economics
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Procter & Gamble Co is a major soap producer. All of the following, except one, would shift its supply curve of liquid soap to left. Which is the exception?
a. an increase in the price of bar soap b. an increase in the price of a key ingredient of liquid soap c. environmental regulations force Procter & Gamble to use a more costly technology to produce liquid soap d. a decrease in the price of liquid soap e. an increase in the wage rate for factory workers who produce liquid soap
Economics
The wealth effect helps explain what feature in the aggregate demand and aggregate supply model?
Economics