Which of the following is NOT included in the income approach to measuring GDP?
A) net interest
B) net exports
C) corporate profits
D) compensation of employees
B
Economics
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Theory seeks to
a. simplify a complex reality b. confront reality in all its complexity by focusing on the unique aspects of each phenomenon c. explain phenomena without predicting them d. predict phenomena without explaining them e. distort reality in order to improve forecasting ability
Economics
Which of the following statements about elasticity of supply is true?
a. Elasticity of supply is always unity. b. Elasticity of supply is always zero. c. Elasticity of supply is always negative. d. Elasticity of supply is always positive.
Economics