A Nation's Real National Income in a Given Year Measures

question 52

Multiple Choice

A nation's real national income in a given year measures the

• A)current-dollar national income earned in the economy.
• B)value of output produced by the economy,measured in constant dollars.
• C)level of national income that is subject to taxation by the federal government.
• D)market value of national output produced by the economy.
• E)opportunity cost of the economy's national output.

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Definitions:

Archie B. Carroll

A business academic known for his work on corporate social responsibility and the pyramid model that outlines the four responsibilities of business: economic, legal, ethical, and philanthropic.

Situationally Ethical

An approach to ethics where moral decisions are made based on the specifics of the situation rather than fixed principles, which can lead to variability in ethical judgments.

Amoral

Lacking moral sensibility; not involving questions of right or wrong.

Rokeach's Survey

is a psychological assessment tool developed by Milton Rokeach that measures individual values and beliefs.