Multiple Choice
In the long run, the level of national income in an economy is determined by its:
A) factors of production and production function.
B) real and nominal interest rate.
C) government budget surplus or deficit.
D) rate of economic and accounting profit.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q68: When there is a fixed supply of
Q69: The demand for output in a closed
Q70: The government raises lump-sum taxes on income
Q71: Assume that the production function is
Q72: In the United Kingdom between 1730 and
Q74: The equation <span class="ql-formula" data-value="\bar
Q75: a. Suppose a government moves to
Q76: In the classical model with fixed income,
Q77: Estimates by Goldin and Katz indicate that
Q78: A production function is a technological relationship