A Nation's Real National Income in a Given Year Measures

Multiple Choice

A nation's real national income in a given year measures the

A) value of output produced by the economy, measured in constant dollars.
B) level of national income that is subject to taxation by the federal government.
C) opportunity cost of the economy's national output.
D) market value of national output produced by the economy.
E) dollar income earned by the nation's producing sector.