The approach to GDP that sums compensation of employees, rental income, corporate profits, net interest, proprietors' income, depreciation, and indirect taxes and subtracts subsidies is the
A) opportunity cost approach.
B) expenditure approach.
C) added cost approach.
D) income approach.
D
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A purely self-interested diner is more likely to tip:
A. only when dining in a very up-scale restaurant. B. only when dining in a restaurant at which he often eats. C. always, to assure good service. D. whenever he can afford to.
Assuming that C = $4,500, I = $1,000, G = $1,200, Exports = $450, Imports = $550, Depreciation = $600, and Indirect Business Taxes = $500 (all in billions of dollars), GDP equals:
A) $5,500 billion. B) $6,000 billion. C) $6,400 billion. D) $6,600 billion.
Most businesses in the United States are ________, and the type of business organization that accounts for the LEAST amount of total revenues is ________
A) proprietorships; partnerships B) corporations; proprietorships C) proprietorships; proprietorships D) corporations; partnerships
If the MPC is .67, then the oversimplified multiplier is
a. 7.60. b. 6.70. c. 3.00. d. 33.