If Households Pay $1,000 in Interest Payments and Receive $1,200

question 249

Multiple Choice

If households pay $1,000 in interest payments and receive $1,200 in interest, wages equal $9,000, rental receipts on land are $200, total business profits before taxes are $2,200, depreciation is $1,750, and indirect business taxes are $1,000, then gross domestic income is

• A) $15,350.
• B) $14,350.
• C) $13,150.
• D) $11,400.

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Definitions:

Mediation

A form of alternative dispute resolution where a neutral third party helps disputants come to a consensus on their own.

Arbitration

A method of dispute resolution where a neutral third party (the arbitrator) makes a binding decision, outside of a courtroom.

Compulsory

Required by law or a rule; obligatory, leaving no option for non-compliance.

Lifetime Appointments

Positions, often in the judicial branch, where the appointee serves for the remainder of their life, unless they resign, retire, or are removed through impeachment.