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
You might also like to view...
The economy pictured in the figure below has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; B B. recessionary; C C. recessionary; A D. expansionary; A
The figure above shows the relationship between the time a student spends studying and the student's GPA that semester. The slope of the relationship at point A ________ the slope at point B
A) is greater than B) is less than C) is equal to D) cannot be compared to E) can be compared but more information is needed to determine whether the slope is greater than, less than, or equal to
What would happen if a corporation goes out of business?
What will be an ideal response?
What does job lock mean?
A. A tendency for workers to remain in their jobs to keep their insurance coverage B. A job where a time clock is used C. A job that provides insurance coverage only after several years of employment D. all of these answer options are correct.