When a refrigerator worth $1,000 is produced and sold,its contribution to the GDP is measured on the expenditure side by its sale price and on the income side by
A) the wages earned by the workers in the firm that produced it
B) the wages earned by the workers and the profits earned by the owners of the firm that produced it
C) wages,interest,and rent paid by the firm's owners to those who contributed to making the refrigerator
D) wages,interest,and rent paid by the firm's owners to those who contributed to making the refrigerator,less taxes
E) wages,interest,and rent paid by the firm's owners,plus the profit they kept for themselves
Correct Answer:
Verified
Q45: Use the following data to calculate GDP:
Q46: Net exports is the value of
A)exports minus
Q47: A problem inherent in using value added
Q48: Which of the following would not increase
Q49: Which of the following is not a
Q51: Double counting in the value added approach
Q52: Aggregate income is defined as
A)the sum of
Q54: Which of the following statements about exports
Q55: Which of the following is not a
Q156: U.S. imports are
A) not added to U.S.
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