Total income is defined as
A) the total amount earned by all resource owners.
B) the sum of the total receipts of firms and the amount earned by households.
C) the sum of the total receipts of firms less the amount of tax that must be paid.
D) the total receipts of firms before taxes.
Question 2
Which of the following statements is TRUE about profits?
A) Profits are considered a cost of doing business.
B) Profits are excluded from the circular flow of the income diagram.
C) The only portion of profits that are included in the circular flow diagram are the portion paid out in the form of dividends.
D) Profits are considered one of the resources necessary for production.
Global Stratification: Income of the World's Nations
Check heat source for temperature. Evaluate the amount of heat given off from the source using your ...
Income per Capita versus Inequality
Finding the length given total distance and distance longer than other point
Converting enzyme activity to its amount
The total weight of Peter, David and Henry is 123 kg, Peter is 15 kg heavier than David. David ...