Consider a Small Economy with 3 Individuals Where Each Individual

question 110

Multiple Choice

Consider a small economy with 3 individuals where each individual produces and sells $1000 worth of final goods and services.The national income for this economy is

• A)$3000.
• B)less than $3000 if some of the income is saved.
• C)more than $3000 if some of the income is invested.
• D)less than $3000 if there are taxes in this economy.
• E)more than $3000 if the individuals are earning profits.

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Definitions:

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Individuals who undergo standardized assessments designed to measure human intelligence and cognitive abilities.

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The proportion of variation among individuals that can be attributed to genes.

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Variations in the DNA sequences among individuals that contribute to the uniqueness of each organism.

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The measure of a student's academic performance in educational settings, often assessed through grades, test scores, and teacher evaluations.