Question

what is the measure of the total income received by American citizens, regardless of where their productive resources are located.

Answer 1

Households as consumers, will demand goods and services sold by the business sector and they spend all of their income which came from the sale of their resources to business sector. This market is called the product market that takes place in the upper part of the circular flow model. Therefore, in this economic exchange the seller receives exactly the same amount that the buyer spends.

Why total income equals total output?

Since total output is the value of all final goods produced and sold in the economy and total income is all the income received from producing that output, they

Answer 2

these are the answer choices
A.National Income
B.Gross Domestic Product (GDP)
C.Gross National Product (GNP)
D. Personal Income

Answer 3

bB

Answer 4

can u help me with one more?

Answer 5

sure if u need it

Answer 6

Which of the following are sectors of the macro economy? (Select more than one.)
A.corporate
B.foreign
C.government
D. consumer

Answer 7

D im pretty sure;D

Answer 8

okay. and im pretty sure there is one more

Answer 9

ok was is it

Answer 10

ya they were all right. thank you!