The Largest Component of GDP in Terms of Income Is

question 177

Multiple Choice

The largest component of GDP in terms of income is

• A) interest and miscellaneous investment income.
• B) net farm and small business income.
• C) corporate and like profits before taxes.
• D) wages,salaries,and supplemental income.
• E) net trade incomE.

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Definitions:

Social Institutions

Established sets of norms and structures that guide individual behavior and contribute to the organization of society, such as family, education, religion, and politics.

Contemporary Theories

Modern theories or ideas in a given field of study that reflect current thinking and developments, as opposed to older, more traditional theories.

Affect Theorist

A scholar who examines how emotions and affective experiences influence human behavior and social phenomena.

Social Life

Refers to the interactions, activities, and relationships that occur between individuals in societies, and how these form the basis of social structures and cultures.