Consider a Small Economy with 3 Individuals Where Each Individual

Multiple Choice

Consider a small economy with 3 individuals where each individual produces and sells $1000 worth of final goods and services.The national income for this economy is

A) $3000.
B) less than $3000 if some of the income is saved.
C) more than $3000 if some of the income is invested.
D) less than $3000 if there are taxes in this economy.
E) more than $3000 if the individuals are earning profits.