Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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isnt building of new public hospital considered investment?
Expert Solution

Step 1: defining national income:
The entire monetary worth of all commodities and services generated inside a nation's boundaries within a given time frame, usually a year, is referred to as national income. It is an important indicator of a country's economic production and activity. National income gives information about a country's total economic performance and well-being since it comprises revenue from citizens, corporations, and the government.
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