Question

Total income can be viewed as the sum of

A. payments to factor services such as​ land, labor,​ capital, and entrepreneurial activity.
B. ​wages, rents,​ interest, and profits.
C. the dollar value of output produced since total income and total production are equal.
D. All of the above.

Answer 1

Answer: The correct answer is "D. All of the above."

Explanation: The total income can be seen as the sum of payments to the services of factors, which are land, labor, capital and business activity, or wages, rents, interests and / or profits and the dollar value of the production produced since total income and total production are the equal.