National income is a measure of
A. How well the economy is doing on a gross basis.
B. The income earned by the factors of production in producing GDP.
C. The country's future productive capacity.
D. The income received by the factors of production plus depreciation.
Answer: B
Economics
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What will be an ideal response?
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Households play what role(s) in the circular flow diagram?
a. purchasers of factors of production and sellers of services b. purchasers of factors of production and sellers of goods c. purchasers of goods and services only d. purchasers of goods and services and sellers of factors of production e. purchasers of factors of production only
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