Consider a Small Economy with 3 Individuals Where Each Individual

question 11

Multiple Choice

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

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

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Definitions:

Conditional Statements

Instructions in programming that perform different actions based on whether a specified condition is true or false.

And Operator

A logical operator used in programming and mathematics that returns true only if all the operands are true.

Concat Operator

In programming, an operator used to join two strings or pieces of data together into one continuous string.

SetProperty Action

A command or instruction within software development that assigns a new value to a given property of an object.