​In the Simple Circular-Flow Diagram, with Households and Firms, GDP

question 214

Multiple Choice

​In the simple circular-flow diagram, with households and firms, GDP can be computed

• A)​as the income received by households, in the form of wages, rent and profit.
• B)​as the income received by households in the form of wages.
• C)​as the payments made by firms for labor.
• D)​as the profits received by households.

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