The Largest Income Component of GDP Is

question 136

Multiple Choice

The largest income component of GDP is

• A) proprietors' income.
• B) rental income.
• C) compensation of employees.
• D) corporate profit.

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Definitions:

Local Law

Local law refers to regulations, ordinances, and statutes that are enacted by local government entities, such as cities or counties, to govern matters within their jurisdiction.

Bilateral Mistake

A mutual misunderstanding regarding a basic assumption on which a contract is based, potentially rendering the agreement void or voidable.

Rescission

The process of revoking, cancelling, or repealing a contract, returning all parties involved to their positions prior to the agreement.

Opinion

A statement by a court expressing the reasons for its decision in a case.