When using the income approach to measure GDP at market prices, in addition to summing all factor
Question:
When using the income approach to measure GDP at market prices, in addition to summing all factor incomes it is necessary to ________.
A. subtract depreciation because profit is not reported as net profit B. add depreciation because capital depreciates when goods are manufactured C. add indirect taxes less subsidies to convert aggregate income from factor cost to market prices D. add a statistical discrepancy which is the sum of depreciation and indirect taxes less subsidies
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Essential Foundations Of Economics
ISBN: 9781786633255
8th Edition
Authors: Robin Bade, Michael Parkin
Question Posted: