Given the Following Information, Aggregate Income Equals

question 147

Multiple Choice

Given the following information, aggregate income equals:

• A)$2,900.
• B)$3,400.
• C)$3,900.
• D)$4,400.

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Definitions:

Gasoline

A flammable liquid derived from petroleum, used mainly as fuel in most internal combustion engines.

Perfectly Inelastic

A situation where the quantity demanded or supplied of a good is unaffected by changes in its price.

Upward-Sloping

A term often used in economics to describe a graph line that represents an increase in one variable as another variable increases, typically applied to supply curves.

Demand Curve

A graphical representation showing the relationship between the price of a good or service and the quantity demanded for a given period.