Which of the Following Is NOT a Component of the Incomes

question 178

Multiple Choice

Which of the following is NOT a component of the incomes approach to GDP?

• A) proprietorsʹ income
• B) net exports
• C) corporate profits
• D) wages and salaries

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Definitions:

Taxable Income

The portion of an individual's or corporation's income that is subject to taxation by the government.

Head of Household

A tax filing status for individuals who are unmarried or considered unmarried, have paid more than half the cost of keeping up a home for the year, and have a qualifying person living with them.

Standard Deduction

A fixed dollar amount that reduces the income on which you are taxed, available to all taxpayers who do not itemize their deductions.

Taxpayer

An individual or entity that is obligated to make payments to municipal, state, or national governments, including taxes on income, property, or sales.