Use the Figure Below to Answer the Following Questions

question 35

Multiple Choice

Use the figure below to answer the following questions. Figure 6.3.2
-Refer to Figure 6.3.2.The seller's share of the tax is

• A)zero.
• B)$0.50.
• C)$1.00.
• D)$1.50.
• E)$2.00.

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Definitions:

Gross World Product

The market value of all final goods and services produced in the world during a given period, usually a year.

Net National Product

The total value of goods produced and services provided by a country during a year, minus depreciation. It reflects the total economic output that is not consumed through wear and tear.

National Income

The total value of all income earned within a country, including wages, rents, interest, and profits.

Flow Variable

A measure of something over an interval of time, such as your spending per week.