When measuring GDP by the income approach, wage income includes i) health-care insurance paid for by the firm for its employees.
Ii) Social Security contributions made by the firm.
Iii) wages paid during a worker's vacation time.
A)i, ii and iii
B)i and ii only
C)i only
D)ii only
E)ii and iii only

Question

Quizplus · Accepted Answer

Wage income in GDP by the income approach includes all forms of compensation to employees, such as health-care insurance, Social Security contributions, and wages paid during vacation time.

When Measuring GDP by the Income Approach, Wage Income Includes