Table 8-27 the Components of National Income for an Economy

question 242

Multiple Choice

Table 8-27
The components of national income for an economy are represented in Table 8-27 above.All values are in billions of dollars.
-Refer to Table 8-27.What is the level of personal income for this economy?

• A)$1,140 billion
• B)$1,010 billion
• C)$990 billion
• D)$860 billion

---

Definitions:

Prices of Inputs

The costs associated with the materials, labor, and other resources necessary for the production of goods or services.

Produce

To manufacture, grow, or create goods and services for consumption or sale.

Transport

The movement of goods or people from one location to another using various modes such as road, rail, air, or sea.

Supply Curve

An illustration that depicts the connection between the cost of a commodity and the amount of the commodity that producers are prepared to offer.