In a simple closed economy, the income approach to calculating GDP is:
A. wages + interest + rental income + profits.
B. wages + interest + government income + profits
C. wages + government earned interest + rental income + profits
D. wages + interest + rental income profits.
A. wages + interest + rental income + profits.
Economics
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When the consumption of one good does not preclude another person from consuming the same good, then there is __________ in the consumption of the good
a. nonrivalry b. rivalry c. exclusivity d. nonexclusivity e. merit
Economics
Technically speaking, a monopolist's share of industry demand is _________ to make it qualify as a monopoly
a. 100 percent b. 50 percent or more c. 25 percent or more d. 0 percent e. there is no specific percentage
Economics