In a simple closed economy, the income approach to calculating GDP is:
A. wages + interest + rental income - profits.
B. wages + government - earned interest + rental income + profits
C. wages + interest + government income + profits
D. wages + interest + rental income + profits.
Answer: D
Economics
You might also like to view...
Holding the nominal interest rate constant, a ________ in the expected rate of inflation tends to ________ the real interest rate
A) rise; increase. B) fall, decrease. C) fall; increase. D) rise; improve.
Economics
A black market can emerge for a good if ________
A) the good is taxed heavily B) there is an excess supply of a good C) the consumption of the good is subsidized D) the production of the good is subsidized
Economics