National income is
a. the sum of all wages and salaries, interest, rent, and profits in the economy.
b. equal to the money value of national output.
c. the before-tax income of all individuals in the economy.
d. All of the above are correct.
d
Economics
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The "home" equilibrium will provide the highest level of consumer satisfaction from domestic resources whenever:
a. the marginal products of labor are equal. b. capital and technology are not factors in the decision of what to produce. c. perfect competition in product and labor markets exists. d. Adam Smith's "invisible hand" is not an interfering factor.
Economics
How does an increase in the expected profit affect investment demand and the demand for loanable funds curve?
What will be an ideal response?
Economics