Asked by
Illiya Manna
on Oct 13, 2024
Verified
National income measures
A) nominal GDP after it has been inflated or deflated for changes in the value of the dollar.
B) the inflation adjusted income of resource supplies.
C) the market value or cost of the resources used in the production of the national output.
D) tax receipts of the federal government.
National Income
The total amount of money earned within a country, including wages, profits, rentals, and pension income.
Nominal GDP
The gross domestic product measured in current prices, without adjusting for inflation.
- Acquire knowledge regarding the notion of national income along with its integral components.
Verified Answer
SR
Learning Objectives
- Acquire knowledge regarding the notion of national income along with its integral components.