The national income accounting system measures economic activity based on the concept of _____
a. absolute advantage of different industries in an economy
b. the circular flow of precious metal and money through the different sectors of an economy
c. comparative advantage of different industries in an economy
d. the circular flow of output and income through the different sectors of an economy
e. the circular flow of labor and other resources through the different sectors of an economy
d
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Bundling
A) is when firms sell multiple separate goods together for a single price. B) is where a firm wraps its fragile goods in special packaging and charges a higher price than if the goods are put into regular packaging. C) increases transaction costs for consumers. D) is illegal in most U.S. states.
The benefits a retired worker receives from Social Security are a fixed percentage of the wages he or she earned
Indicate whether the statement is true or false