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.
Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter7: Production And Growth
Section: Chapter Questions
Problem 5CQQ
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Question
Transcribed Image Text: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.
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