The factor income approach classifies all of the spending in a nation as consumption,investment,government purchases,or net exports.

Name: The factor income approach classifies all of the spending in a nation as consumption,investment,government purchases,or net exports.
Brand: Quizplus
Rating: 4.7 (38 reviews)

Question

Quizplus · Accepted Answer

The factor income approach focuses on the income earned by factors of production (such as labor and capital) rather than spending. It categorizes income into wages, rent, interest, and profits.

The Factor Income Approach Classifies All of the Spending in a Nation