According to the income approach, the largest component of national income is:
a. government spending.
b. proprietor's income.
c. net interest.
d. personal consumption expenditures.
e. compensation of employees.
Question 2
When price level in the United States rises,
a. there is a increased demand for borrowed money.
b. producers' demand for new machinery increases, contributing to an increase in aggregate demand.
c. Americans tend to buy more foreign goods and services.
d. the French, Canadians, and Japanese would find our exports more attractive.
e. to replenish the value of your real wealth, you would save less and consume more.
Alligators of various ages in Everglades National Park
A pygmy hippopotamus at National Zoo.
Children: A Chronological Approach, Canadian Edition