The Total Factor Payments to All Resource Owners Is Called

question 140

Multiple Choice

The total factor payments to all resource owners is called

• A) net domestic product.
• B) personal income.
• C) national income.
• D) gross domestic income.

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Definitions:

Percentage

A percentage is a way of expressing a number as a fraction of 100, used to describe proportions and changes in quantities.

Value

The worth or importance of something, often determined by its utility, scarcity, or demand.

HST

Harmonized Sales Tax, a combined tax that includes both federal and provincial sales taxes, applied in some regions of Canada.

Pay-No-HST

A situation or offer where the Harmonized Sales Tax (HST) is not applied, making the purchase effectively tax-free.