Which of the Following Is Included in the Calculation of Gross

question 112

Multiple Choice

Which of the following is included in the calculation of Gross Domestic Product (GDP) using the income approach? I. Wages and salaries.
II) Net exports.

• A) I only
• B) II only
• C) Both I and II
• D) Neither I nor II

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Definitions:

Discounted Present Value

A method of valuing a future amount of money by applying a discount rate to adjust for time and risk.

Time Period

A specific duration for which economic data is measured or observations made.

Time-Value

The idea that having money now is more valuable than having the same sum in the future because of the potential to earn more over time.