The income approach to measuring GDP
A) sums the value at each stage of production plus the value of depreciation.
B) sums all incomes earned in Australia and makes no other adjustments because other adjustments are not necessary.
C) measures the cost of producing GDP rather than the market value.
D) determines the cost of production, then adjusts it to equal the market value of production.
Correct Answer:
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Q96: In the circular flow of income
A)households demand
Q97: Q98: Net investment equals Q99: Compared to the other sources of spending, Q100: An indirect tax is exemplified by Q102: The circular flow shows that the household Q103: A common definition of a recession is Q104: Which of the following expressions equals GDP? Q105: The circular flow diagram shows that Q106: To measure GDP using the expenditure approach
A)gross investment/depreciation.
B)capital stock minus depreciation.
C)the
A)a subsidy.
B)a
A)Compensation
A)the total
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