National income is defined as gross national product minus
a. depreciation and net taxes.
b. national income.
c. depreciation.
d. personal disposable income.
A
Economics
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A competitive firm will maximize profits at that output at which:
A. total revenue exceeds total cost by the greatest amount. B. total revenue and total cost are equal. C. price exceeds average total cost by the largest amount. D. the difference between marginal revenue and price is at a maximum.
Economics
Which of the following is a positive effect of free trade?
a. Buyers face fewer choices in the marketplace. b. Global competition helps to keep prices down. c. Producers encounter fewer economies of scale. d. Some nations operate as closed economies.
Economics