MACROECONOMICS FOR TODAY
10th Edition
ISBN: 9781337613057
Author: Tucker
Publisher: CENGAGE L
expand_more
expand_more
format_list_bulleted
Question
Chapter 5, Problem 19SQ
To determine
The income that people earn in resource or factor market.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
What should be added to the net output to get the national income?
a.
Net factor income from abroad
b.
Net consumption
c.
Intermediate consumption
d.
Net income
What is the measure of the income earned by owners of resources used in making final goods and services?
a.
personal income
b.
gross domestic income
c.
retained earnings
d.
national income
Gross domestic product (GDP) is defined as the:
A. value of all final goods and services produced in a country during a period of time
B. value of all final goods produced by a country’s resources that are in foreign countries during a period of time.
C. value of all final goods that can be produced in a country by utilizing all resources during a period of time.
D. value of the income earned by the owners of resources in a country during a period of time
E. value of all intermediate goods and services produced in a country during a period of time
Chapter 5 Solutions
MACROECONOMICS FOR TODAY
Ch. 5.6 - Prob. 1YTECh. 5 - Prob. 1SQPCh. 5 - Prob. 2SQPCh. 5 - Prob. 3SQPCh. 5 - Prob. 4SQPCh. 5 - Prob. 5SQPCh. 5 - Prob. 6SQPCh. 5 - Prob. 7SQPCh. 5 - Prob. 8SQPCh. 5 - Prob. 9SQP
Ch. 5 - Prob. 10SQPCh. 5 - Prob. 11SQPCh. 5 - Prob. 12SQPCh. 5 - Prob. 13SQPCh. 5 - Prob. 1SQCh. 5 - Prob. 2SQCh. 5 - Prob. 3SQCh. 5 - Prob. 4SQCh. 5 - Prob. 5SQCh. 5 - Prob. 6SQCh. 5 - Prob. 7SQCh. 5 - Prob. 8SQCh. 5 - Prob. 9SQCh. 5 - Prob. 10SQCh. 5 - Prob. 11SQCh. 5 - Prob. 12SQCh. 5 - Prob. 13SQCh. 5 - Prob. 14SQCh. 5 - Prob. 15SQCh. 5 - Prob. 16SQCh. 5 - Prob. 17SQCh. 5 - Prob. 18SQCh. 5 - Prob. 19SQCh. 5 - Prob. 20SQ
Knowledge Booster
Similar questions
- what is Value Added at Producer Price and Value Added at Purchaser Price. How are they calculatedarrow_forwardCalculate (a). The Gross national income at factor cost (b). Net national incomearrow_forwardWhich of the following is included in Gross Domestic Product (GDP)? Select one: a. the buying and selling of securities b. government transfer payments c. private transfer payments d. the sale of used goods e. None of thesearrow_forward
- 1. Check on the table below the factors that measure national income. Choose only three from the list and write down an example that represents to it. Measures of National Income Example 1. Gross Domestic Product 2. Gross National Product 3. Net National Product 4. NNP at Factor Cost 5. Personal Income 6. Disposable Personal Incomearrow_forwardExclude the income of foreign nationals that resides with in the country in a given period of time. a. consumption b. investment c. gross national product d. all of the abovearrow_forwardWhich of these is not a method for calculating national income? a. Net Output Method b. Expenditure method c. Income Method d. Gross Output Methodarrow_forward
- Identify the part of the personal income which is actually available for consumption a.Consumption income b.Disposable income c.National income d.Taxable incomarrow_forwardParticipants Cost of Materials Value of Sales Farmer $0 $100 Cone factory and ice cream-maker 100 250 Middleperson 250 400 Vendor 400 500 a) Calculate the value added at each stage of production. b) Calculate the contribution to GDP from the good.arrow_forwardPersonal income is national income minus Select one: a. depreciation. b. imports. c. the amount of national income not going to households. d. net factor income to the rest of the world.arrow_forward
- What variables determine gross domestic product? What are the two approaches used to measure gross domestic product?arrow_forwardTransfer payments are not included in GDP calculation because these are OA. no different from income tax payments. B. income received, but not as payments for providing current goods and services. C. income from foreign countries that is transferred to the U.S. OD. payments received from an employer as a reimbursement for moving expenses.arrow_forwardIdentify the part of the personal income which is actually available for consumption a. Consumption income b. National income c Disposable income d. Taxable incomearrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Exploring EconomicsEconomicsISBN:9781544336329Author:Robert L. SextonPublisher:SAGE Publications, Inc
Economics Today and Tomorrow, Student EditionEconomicsISBN:9780078747663Author:McGraw-HillPublisher:Glencoe/McGraw-Hill School Pub Co
Economics (MindTap Course List)EconomicsISBN:9781337617383Author:Roger A. ArnoldPublisher:Cengage Learning
Exploring Economics
Economics
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:SAGE Publications, Inc
Economics Today and Tomorrow, Student Edition
Economics
ISBN:9780078747663
Author:McGraw-Hill
Publisher:Glencoe/McGraw-Hill School Pub Co
Economics (MindTap Course List)
Economics
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Cengage Learning