Aggregate Income Equals

question 54

Multiple Choice

Aggregate income equals:

• A)the sum of income earned by all laborers in the world economy.
• B)the sum of income earned by all workers in the private sector.
• C)the sum of the income earned by all the resource suppliers in an economy.
• D)the total income of all employees after payment of income tax.
• E)the total income of all employees after purchases of necessities.

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Definitions:

Service Department Costs

These are costs associated with departments that do not directly produce goods but provide necessary services to production departments, like maintenance and cleaning.

Geriatric Medicine

A branch of medicine that focuses on health care of elderly people, aiming to promote health and prevent and treat diseases and disabilities in older adults.

Personnel Costs

Expenses related to employees, including wages, benefits, and taxes.

Information Technology

The use of computers, networking, and other physical devices, infrastructure, and processes to create, process, store, secure, and exchange all forms of electronic data.