29.The income approach to measuring GDP: A) B) c) focuses on how income is earned, not spent. uses the factors payments made by households to businesses to estimate GDP. uses household expenditures to back out national income and GDP. D) uses of the factor payments made by household to government 30. National income is a sum of: a) spending of four sectors of the economy on GDP. b) payments to the factors of production. c) factors payments made by household to government d) factors payments made by business to government.
29.The income approach to measuring GDP: A) B) c) focuses on how income is earned, not spent. uses the factors payments made by households to businesses to estimate GDP. uses household expenditures to back out national income and GDP. D) uses of the factor payments made by household to government 30. National income is a sum of: a) spending of four sectors of the economy on GDP. b) payments to the factors of production. c) factors payments made by household to government d) factors payments made by business to government.
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter17: Production And Growth
Section: Chapter Questions
Problem 5CQQ
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