The Department of Commerce sums the payments made to resources to arrive at GDP in the form of wages, self-employment income, rents, interest, profits, indirect taxes, and depreciation. This method of deriving GDP is called the
a. opportunity cost approach.
b. resource cost-income approach.
c. expenditure approach.
d. monetarist approach.
B
Economics
You might also like to view...
Under what conditions is an economy's production possibilities frontier also its consumption possibilities frontier?
Economics
You put $75 in the bank one year ago and forgot about it. The bank sends you a notice that you now have $81 in your account. What interest rate did you earn?
a. 5 percent b. 6 percent c. 7 percent d. 8 percent
Economics