Multiple Choice
Consider a small economy with 3 individuals.Individual A produces 100 chickens that sell for $8 each.Individual B produces 50 bags of corn that sell for $10 each.Individual C produces 40 bushels of apples that sell for $20 each.National income in this economy is
A) 100 chickens plus 50 bags of corn plus 40 bushels of apples.
B) 190 units of goods produced.
C) $2100.
D) $2470.
E) not determinable from the information provided.
Correct Answer:
Verified
Correct Answer:
Verified
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