Proprietors' income is a component of which approach to measuring GDP?

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Proprietors' income is a type of income earned by individuals who own and operate their own business. It is considered a component of the incomes approach to measuring GDP, which adds up all of the income earned by households and firms in a given economy. The output approach focuses on the value of all goods and services produced, the cost approach looks at the cost of production, and the expenditure approach calculates the total amount spent by consumers, businesses, and governments.

Proprietors' Income Is a Component of Which Approach to Measuring