Which of the Following Would Be Included in the Income

question 184

Multiple Choice

Which of the following would be included in the income approach to calculating U.S.GDP?

• A) Wage and salary payments to U.S.workers
• B) Purchases of automobiles by households
• C) Government purchases of guns and tanks and bombs
• D) Purchases of new trucks by Federal Express
• E) Purchases of new tractors by farmers

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Definitions:

Beliefs

Convictions or acceptance that something is true or exists, often forming the basis of values and societal norms.

Norms

Socially accepted standards of behavior and conduct expected of individuals in a group or society.

Dominant Culture

The culture of the most powerful group in society.

Middle-class Values

Norms, beliefs, and behavioral expectations typically associated with the middle socio-economic class, often emphasizing education, hard work, and respectability.