Question

The sum of all the income received for contributing resources to GDP is called ___________________. (A) national income (Y) (B) national revenue (Y) (C) marginal income (X) (D) marginal revenue (X)

Answer 1

The correct answer is (A) national income (Y)

Step-by-step explanation:

Also called national income. It is an economic magnitude, which is composed of all the income that all the national productive factors receive during a certain period, discounting all the intermediate goods and services that have been used to produce them. It is a valuable tool to analyze the results of the economic process, which specifically measures the amount of goods and services available in the country during a certain year.