Table 8-28

-Refer to Table 8-28.Based on the table above,what is national income for this economy?
A)$4,700 billion
B)$4,000 billion
C)$3,150 billion
D)$2,450 billion

Question

Table 8-28
 
-Refer to Table 8-28.Based on the table above,what is national income for this economy?
A)$4,700 billion 
B)$4,000 billion 
C)$3,150 billion 
D)$2,450 billion

Quizplus · Accepted Answer

National Income (NI) is found by subtracting indirect business taxes and financial transfer payments from Gross National Product (GNP). In this case, NI = GNP - Indirect Business Taxes = $4,500 billion - $500 billion = $4,000 billion. Therefore, the best choice is B.

Table 8-28 -Refer to Table 8-28.Based on the Table Above,what Is National