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ujesssss ujesssss
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4 years ago

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.

Interest paid by households and by the government is



▸ counted in national income, but not in GDP.

▸ not counted in GDP because it is not assumed to flow from the production of goods and services.

▸ not counted in GDP but is counted in GNP because it is paid by U.S. citizens to people living in the United States.

▸ included in both GDP and GNP because it represents an expenditure by one group and a receipt of income by another group.
Textbook 
Principles of Economics

Principles of Economics


Edition: 12th
Authors:
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Brittany08196Brittany08196
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4 years ago
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ujesssss Author
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4 years ago
Thanks
hpascoe
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Yesterday
Helped a lot
Zacellison
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2 hours ago
Thanks for your help!!
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