In the Factor Payments Approach to GDP,owners of Capital Receive

question 28

Multiple Choice

In the factor payments approach to GDP,owners of capital receive

• A) wages
• B) salaries
• C) rent
• D) interest
• E) profit

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Definitions:

Consortium

A group of companies or organizations that join together for a common purpose, often to undertake a substantial project beyond the resources of any single member.

Collusion

A secret agreement or cooperation between two or more parties for a deceitful, illegal, or fraudulent purpose.

Duty of Performance

An obligation in contract law requiring parties to complete their contractual obligations.

Agency Agreement

A legal contract creating a fiduciary relationship whereby the first party ("the principal") agrees that the actions of a second party ("the agent") binds the principal to later agreements made by the agent as if the principal had himself personally made the later agreements.