The Accounting Identity for the Economy's Factor Payments Can Be

question 85

Multiple Choice

The accounting identity for the economy's factor payments can be written as ____.

• A)GDP = wages + interest + rents + profits
• B)GDP = consumption + investment + government + intermediate goods + net exports
• C)GDP = wages + interest + rents + net exports
• D)GDP = wages + interest + rents + saving + investment

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Definitions:

Graphically

Representing data or information using visual elements such as charts, graphs, or diagrams.

Set of Equations

A collection of mathematical equations that are related by one or more variables, often used to solve multi-variable problems.

Pair of Equations

Two equations that are considered together, often used to find the solution to a set of variables in math.

Three Figure Accuracy

Refers to rounding calculations to three significant digits.