In the Long Run, the Level of National Income in an Economy

question 73

Multiple Choice

In the long run, the level of national income in an economy is determined by its:

• A) factors of production and production function.
• B) real and nominal interest rate.
• C) government budget surplus or deficit.
• D) rate of economic and accounting profit.

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Definitions:

Fossa Ovalis

An oval depression in the interatrial septum of the heart that is a remnant of the foramen ovale of fetal circulation.

Congenital Disorder

A medical condition or defect that is present from birth, which can be caused by genetic abnormalities, infections, or environmental factors affecting fetal development.

Autosomes

Chromosomes that are not sex chromosomes, involved in determining most of an individual's genetic characteristics.

Sex Determination

The biological system that determines the development of sexual characteristics in an organism, often based on genetic makeup.