when calculating gdp using the income approach, which of the following components are included?\ndepreciation…

when calculating gdp using the income approach, which of the following components are included?\ndepreciation and exports\nconsumer and business savings\nintermediate goods\nwages, rent, interest, and profit

when calculating gdp using the income approach, which of the following components are included?\ndepreciation and exports\nconsumer and business savings\nintermediate goods\nwages, rent, interest, and profit

Answer

Brief Explanations:

The income - approach to calculating GDP sums up all the incomes earned in the production of goods and services. Wages are payments to labor, rent is payment for the use of land and other natural resources, interest is payment for the use of capital, and profit is the income of entrepreneurs. Depreciation is not part of income components directly, exports are part of the expenditure - approach, consumer and business savings are not income components for GDP calculation by income - approach, and intermediate goods are not counted to avoid double - counting.

Answer:

Wages, rent, interest, and profit