The Largest Category When Using the Income Approach to Calculate

question 146

Multiple Choice

The largest category when using the income approach to calculate GDP is

• A) corporate profits.
• B) compensation of employees.
• C) rental income.
• D) proprietors' income.

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Definitions:

Interrelated Parts

Components that are connected or related in such a way that changes in one part affect the others.

Proletariat

The class of wage-earners in a capitalist society, who, lacking substantial control over the means of production, sell their labor to live.

Bourgeoisie

The social class that owns the means of production during modern industrial capitalism, typically contrasted with the working class or proletarians.

Class Consciousness

The awareness of one's social class and the sense of shared interests with others in the same class, often in contrast to opposing classes.