GDP can be measured in terms of expenditures but not income, since income is subject to taxation.

Name: GDP can be measured in terms of expenditures but not income, since income is subject to taxation.
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Question

​GDP can be measured in terms of expenditures but not income, since income is subject to taxation.

Quizplus · Accepted Answer

GDP can be measured both in terms of expenditures and income. The income approach calculates GDP by summing all incomes in the economy, including wages, interest, profits, and rents, adjusting for taxes and subsidies.

​GDP Can Be Measured in Terms of Expenditures but Not

GDP Can Be Measured in Terms of Expenditures but Not