In order to compute national income from GDP,
a. national income is first calculated, and then depreciation of capital and indirect business taxes are subtracted from it to get GDP.
b. GDP is first calculated, and then gross private domestic investment is subtracted from it to get national income.
c. GDP is first calculated, and then capital depreciation and proprietors' income are subtracted from it to get national income.
d. GDP is first calculated, and then depreciation of capital is subtracted from it to get national income.
d
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If the number of employed people is 150 million, the number of unemployed people is 50 million, and the working-age population equals 285 million people, the labor force participation rate is
A) 70.2 percent. B) 81 percent. C) 17.5 percent. D) 25 percent. E) 52.6 percent.
Which standard states that "the owner is entitled to receive 'what a willing buyer would pay in cash to a willing seller' at the time of the taking"?
A) the comparable sales method B) just compensation C) fair market value D) the equitable transactions cost method