According to the Income Approach to Measuring GDP,the Largest Income

question 99

Multiple Choice

According to the income approach to measuring GDP,the largest income category is

• A)wages.
• B)interest.
• C)rent.
• D)profits.
• E)consumption expenditure.

---

Definitions:

Common Law Rule

A principle or rule established in previous legal cases that is either binding on or persuasive for a court or other tribunal when deciding subsequent cases with similar issues or facts.

Perfect Tender Rule

A legal principle that requires the delivery of goods to be exactly as specified in the contract without any deviations or defects.

Conforming Goods

Products that meet the specifications and standards outlined in a purchase contract.

Conforming Goods

Goods that meet the specifications and terms as stated in a contract of sale.