When estimating GDP using the income approach, aggregate income is adjusted by
A. subtracting depreciation.
B. subtracting indirect business taxes.
C. adding indirect business taxes.
D. adding net income earned abroad.
Answer: C
You might also like to view...
The phone bill for a company consists of both fixed and variable costs. Refer to the four-month data below and apply the high-low method to answer the question. Minutes Total Bill January 480 $4000 February 200 $2700 March 170 $2640 April 320 $2855 What is the fixed portion of the total cost?
Refer to Figure 13.2. If Oliver's political views place him at the L4 position and George's political views place him at the C4 position, Alice's preference for mayor is
A) Oliver Cousins. B) George Glass. C) Alice is indifferent between the two candidates. D) Alice definitely does not like either candidate.
Suppose that Barack and Michelle are duopolists. Barack is producing 300 units of output, and Michelle is producing 400 units of output. When Michelle produces 400 units, Barack maximizes profit by producing 300 units. When Barack produces 300 units of output, Michelle maximizes profit by producing 400 units. Barack and Michelle are
a. in a competitive market. b. at a Nash equilibrium. c. producing with no deadweight loss. d. selling at a price higher than the monopoly price.
Which of the following countries has the greatest percentage of people living in extreme poverty?
A. China. B. India. C. Bolivia. D. Congo.