The Income Approach to Calculating GDP Is

question 46

Multiple Choice

The income approach to calculating GDP is

• A) the sum of all business income earned.
• B) the sum of all consumer income earned.
• C) all the spending on goods and services earned by consumer's income.
• D) the sum of all incomes earned from production.
• E) net of taxes.

---

Definitions:

One-time Payment

A payment method involving a single transaction, as opposed to recurring payments.

Subscription

A subscription is an agreement to receive or gain access to digital or physical products or services, often for a recurring fee.

Computer Servers

Powerful computers designed to provide services, data, or resources to other computers or clients over a network.

Internet

A vast network that connects millions of computers across the globe, facilitating the exchange of data, communication, and resources.