Examlex
Which of the following components is not used to measure GDP using the income approach?
Capital
Wealth in the form of money or other assets owned by a person or organization or available for purposes such as starting a company or investing.
Labor
Pertains to the utilization of human labor, encompassing both physical and intellectual efforts, in the creation of products and services.
Marginal Rate
Often referred to in the context of taxes or production, indicating the rate of increase or the additional cost or benefit of producing one more unit of a good.
Technical Substitution
The process of replacing one input or factor of production with another to maintain the same level of output.
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