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83) Refer to Scenario 11-1. The value of each canoe in gross domestic product equals
a. $400.
b. $1

c. $500.
d. $800.

84) Gross domestic product understates the total production of final goods and services because of the omission of
a. exports.
b. the underground economy.
c. intermediate goods.
d. inflation.
Table 11-15
National Income$1000 billion
Retained earnings not paid as dividends$50 billion
Transfer payments$40 billion
Interest on government bonds$20 billion
Personal Taxes$30 billion

The components of national income for an economy are listed in Table 11-15.
85) Refer to Table 11-15. What is the level of personal disposable income
for this economy?
A) $1

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