Consider a Small Economy with 3 Individuals

question 40

Multiple Choice

Consider a small economy with 3 individuals.Individual A produces 100 chickens that sell for $8 each.Individual B produces 50 bags of corn that sell for $10 each.Individual C produces 40 bushels of apples that sell for $20 each.National income in this economy is

• A)100 chickens plus 50 bags of corn plus 40 bushels of apples.
• B)190 units of goods produced.
• C)$2100.
• D)$2470.
• E)not determinable from the information provided.

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Definitions:

Self-Esteem

An individual's subjective evaluation of their own worth and capabilities.

New Skills

Abilities or competencies acquired through practice, learning, or training that enable a person to perform specific tasks effectively.

Self-Monitors

Individuals who consciously regulate their behavior to adapt to social situations and expectations.

Self-Presentation

The process by which individuals attempt to control the impressions others form of them, especially in social interactions.