multiple choice question gdp can be thought of as ______ capital income plus labor income labor income plus…
multiple choice question gdp can be thought of as ______ capital income plus labor income labor income plus government purchases capital income minus labor income human capital plus physical capital need help? review these concept resources. read about the concept
Answer
Brief Explanations:
GDP (Gross Domestic Product) can be calculated using the income - approach. In the income - approach, GDP is the sum of all factor incomes in an economy. The main factor incomes are capital income (return on capital) and labor income (wages, salaries etc.). So GDP can be thought of as capital income plus labor income.
Answer:
capital income plus labor income