National Income Is the Sum of

question 155

Multiple Choice

National income is the sum of

• A)wages and profits.
• B)wages, interest, profits, and rent.
• C)interest and rent.
• D)wages, transfer payments, and tax revenues.

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Definitions:

State Agency

An organization run by the state government, performing specific functions or services.

Corporation

A legal entity that is separate and distinct from its owners, which can own property, be taxed, and be held legally liable.

Proposed Interstate Highway

A suggested or planned addition to the interstate highway system that may be under consideration or development but is not yet in existence.

Shareholders

Entities or individuals that own a part of a corporation through their stock holding, which entitles them to a share of the company’s profits and a say in its operations.