Wages, salaries, and supplementary labour income are components of which approach to measuring GDP?

Question

Quizplus · Accepted Answer

The income approach to measuring GDP focuses on the income generated by the production of goods and services. It includes wages, salaries, and supplementary labor income, as well as profits, rent, and interest income. The output approach focuses on the physical goods and services produced, the value-added approach focuses on the value added at each stage of production, the injections approach focuses on the additions to the circular flow of income and expenditure (such as investment and government spending), and the expenditure approach focuses on the final expenditure on goods and services.

Wages, Salaries, and Supplementary Labour Income Are Components of Which