What Happens to Income Earned in Canada

question 96

Multiple Choice

What happens to income earned in Canada?

• A)It is spent on exports,imports,and investment and saved.
• B)It is spent on consumption,imports,and taxes and saved.
• C)It is spent on consumption,exports,and taxes and saved.
• D)It is spent on consumption,imports,taxes,and investment.
• E)It is spent on imports,taxes,and government spending.

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Definitions:

Resource Endowments

The natural resources, labor force, and capital that a country possesses, which can affect its economic development.

Crude Oil

Crude oil is a natural, unrefined petroleum product composed of hydrocarbon deposits and other organic materials, used as a primary energy source and raw material for various products.

Diamonds

Valuable gemstones that are often used in jewelry and have significant industrial applications due to their hardness.

Economies Of Scale

Cost advantages that enterprises gain due to an increase in size or output, resulting in lower costs per unit.