Consider the following information for the U.S. economy (figures in billions). Table 7-6
Refer to Table 7-6. What was the value of national income?
A) $7,123
B) $7,666
C) $8,841
D) $11,004

Question

Consider the following information for the U.S. economy (figures in billions). Table 7-6
 Refer to Table 7-6. What was the value of national income?
A) $7,123 
B) $7,666 
C) $8,841 
D) $11,004

Quizplus · Accepted Answer

National income is calculated as the sum of all income earned by the factors of production (wages + interest + rent + profit). In Table 7-6, the sum of these income components equals $8,841 billion.

Consider the Following Information for the U