National Income Is

question 288

Multiple Choice

National income is

• A) the total of factor payments to owners of resources.
• B) the dollar value of all final goods and services produced in a country in a year.
• C) the amount of monetary payments households actually receive before paying personal income taxes.
• D) the amount of monetary payments households actually receive after paying personal income taxes.

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Definitions:

Female

Referring to the sex of an organism or individual having characteristics associated biologically and genetically with females, often in contrast to males.

Male

Refers to the biological sex that produces small, mobile gametes, typically associated with XY chromosomes in many species.

Combinations

The selection of items from a collection, such that the order of selection does not matter, often used in probability and statistics.

Distinguishable

The quality of being clearly different or distinct in character or appearance, making something recognizable or understandable.