Answer:
b.) fixed cost
Explanation:
Fixed cost is a cost which has incurred and does not varies with change in the amount of goods being produced or being sold in the market.
These are expenses are paid by the company
Fixed costs are independent of any business related activities.
Here,
the lease amount is paid once for a vehicle and the lease amount of this truck does not varies with the amount of products company produces.
Income effect - This is the increase or decrease in purchasing power brought on by changes in prices.
substitution effect-This refers to how people may buy a lower-priced product rather than a more expensiv product. This effect may change the demand for a good or service.
The process of developing or being developed.
Answer:
A. National income must equal domestic product.
True.
Explanation:
National Income is the total value of goods and services produced in a country during a financial period. It is total income from a country's economic activities.
Domestic product is monetary value of all economic activities of a country during a period.
National Income is sum of Investments, Savings, Government expenditures and net exports. National Income equals the domestic products of a country. The equation is as follows:
C + I + G + (X - IM) = DI + NT.
The statement given is true. Disposable income equals the saving plus consumption. The excess of disposable income which is not consumed is saved. Sum of saving and consumption must equal Disposable income in an economy.
