17 (2 3) ) Which of the following is not part of a country's GDP according to the income approach: all elements are included in GDP according to the income approach net operating surplus depreciation (capital consumption) net taxes on production net foreign transfers 18 An increase of expected income will lead to: (2 5)) an upward shift of both the consumption and the saving functions a downward shift of both the consumption and the saving functions an upward shift of the consumption function and a downward shift of the saving function a downward shift of the consumption function and an upward shift of the saving function a move to the right along the consumption and the saving functions19 Which of these operations of a traditional central bank will reduce money supply in the economy: (23)) decreasing the required reserve ratio decreasing the tax rate increasing the discount rate increasing the tax rate buying government bonds from commercial banks