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Questions and Answers
What is national income?
What is national income?
- The total amount of money in circulation within a country
- The total value of all goods and services produced in a country within a specific time period (correct)
- The total value of goods produced for export in a country
- The total income earned by the government through taxes
Which of the following is included in the calculation of national income?
Which of the following is included in the calculation of national income?
- Income from wages and salaries (correct)
- Government spending on national defense
- Value of stocks and bonds traded in the stock market
- Value of imports and exports
What does national income serve as a measure of?
What does national income serve as a measure of?
- Government debt and liabilities
- Economic performance of a country (correct)
- Inflation rate
- Population growth rate
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