The income approach measures GDP by summing
A) C + I + G + NX.
B) the total production of all final goods and services produced in a year within a country's borders.
C) the wealth of households, business and government.
D) the incomes paid to households for the resources they own.
E) Both answers A and D are correct.
Correct Answer:
Verified
Q20: Kelly's Surf Shop orders 5,000 new surfboards
Q21: Q22: If consumption was 70 per cent of Q23: Adding wages, interest, rent and profits yields Q24: The expenditure approach values _ and the Q26: Nominal GDP is GDP Q27: Nominal GDP increases Q28: Nominal GDP measures the value of goods Q29: Total expenditure equals total income Q30: Everything else the same, if government expenditure
A)
A) after adjusting for
A) only if the productivity
A) because firms
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