When using the income approach to measure GDP, the largest share of GDP in advanced countries generally consists of:
A) capital income.
B) labour income.
C) interest income.
D) profit income.
E) indirect taxes.

Question

Quizplus · Accepted Answer

In advanced countries, the largest share of GDP when using the income approach is typically labor income. This includes wages and salaries earned by workers, as well as benefits such as healthcare and retirement contributions made by employers.

When Using the Income Approach to Measure GDP, the Largest