Question Details

Looking at the components of the income approach we see that



1) In the country of Darrowby, net domestic income at factor cost is $2.0 million. Gross domestic
product is $3.0 million, and depreciation is $0.5 million. Indirect taxes less subsidies ________.
A) are $1 million
B) are $0.5 million
C) cannot be calculated
D) are -$0.5 million
2) The largest component of national income is
A) compensation of employees.
B) rental income.
C) corporate profits.
D) proprietorsʹ income.
3) Looking at the components of the income approach we see that
A) compensation of employees is the largest category.
B) consumption is the largest category.
C) profits are the largest category.
D) rental income is the largest category.
4) Compensation paid to employees represented ________ of GDP for the United States in 2010.
A) about 5 percent
B) approximately 15 percent
C) 35 percent
D) more than 50 percent



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