Which Approach to Calculating GDP Is Computed Using Compensation of Employees

question 20

Multiple Choice

Which approach to calculating GDP is computed using compensation of employees, rental income, profits, net interest, indirect business taxes, and depreciation?

• A) The expenditure approach.
• B) The income approach.
• C) The product-market approach.
• D) The circular-flow approach.

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Definitions:

Linnaeus' Classification

A system of categorizing and naming organisms developed by Carl Linnaeus, based on shared physical characteristics.

Structural Differences

Variations in the physical or anatomical organization between organisms, cells, or molecules.

Evolutionary Species Concept

A definition of species based on evolutionary lineage, where a species is a lineage of populations which maintains its identity from other such lineages and has its own evolutionary tendencies and historical fate.

Natural Selection

The process by which organisms better adapted to their environment tend to survive and produce more offspring.