The Components of GDP Using the Income Method (Excluding Indirect

question 47

Multiple Choice

The components of GDP using the income method (excluding indirect business taxes and depreciation) are

• A) consumption expenditures, investment expenditures, and government expenditures.
• B) consumption expenditures, investment expenditures, government expenditures, and net exports.
• C) wages and interest.
• D) wages, interest, rents, and profits.

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Definitions:

Archie Carroll

A scholar who formulated the Pyramid of Corporate Social Responsibility, suggesting businesses have responsibilities on four levels: economic, legal, ethical, and philanthropic.

Managerial Categories

Classifications of managerial roles or functions based on specific criteria such as scope of responsibility or level of authority.

Express Contract

A contract in which the terms are specifically stated by the parties, either orally or in writing.

Executed Contract

A contract that has been fully performed and completed by all parties involved.