Chapter 20 Appendix--Nation - Chapter 20 Appendix-National...

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Chapter 20 Appendix--National Income Accounts Student: ___________________________________________________________________________ 1. National income is A. GDP minus depreciation B. NDP minus depreciation C. GDP minus depreciation plus indirect business taxes D. GDP plus depreciation minus indirect business taxes E. NDP minus indirect business taxes 2. The reason that indirect business taxes are subtracted from NDP to get NI is that they 3. What accounts for the difference between GDP and NDP? 4. National Income is best defined as sum of all income earned by
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5. Which of the following does not help account for the difference between GDP and National Income (NI)? A. depreciation B. net indirect business taxes C. personal income taxes D. earnings of American owned resources located abroad E. earnings of foreign owned resources located in the U.S. 6. Personal income equals national income minus personal taxes. A. True B. False 7. Personal income minus personal taxes equals disposable income. A. True B. False 8. Disposable income is personal income after taxes. A. True B. False 9. Personal income is 10. Income earned but not received refers to
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