Question 1
What should be subtracted from GDP to calculate national income?
◦ depreciation
◦ indirect taxes
◦ personal income taxes
◦ net factor payments to the rest of the world
Question 2
Proprietors' income is
◦ the income of unincorporated businesses.
◦ the income of all businesses—incorporated and unincorporated.
◦ the income of sole proprietorships.
◦ the income of partnerships.