Question
In the simple circular-flow diagram, with households and firms, GDP can be computed a. as the income received by households, in the form of wages,
In the simple circular-flow diagram, with households and firms, GDP can be computed
a. as the income received by households, in the form of wages, rent and profit.
b. as the income received by households in the form of wages.
c. as the payments made by firms for labor.
d. as the profits received by households.
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Numerical Methods For Engineers
Authors: Steven C. Chapra, Raymond P. Canale
5th Edition
978-0071244299, 0071244298
