under the income approach to gdp, the wages, salaries, and benefits paid by businesses and government fall under the category of

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erastova [34]

1 year ago

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under the income approach to gdp, the wages, salaries, and benefits paid by businesses and government fall under the category of

compensation of .

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1 answer:

Naddik [55] · Answer 1 · 2024-09-20T14:13:31+03:00

Under income method to GDP (gross domestic product), the wages, salaries, and benefits paid by businesses and government fall under the category of compensation of employees.

The total monetary or market worth of all of the finished goods and services manufactured inside a nation's borders during a certain time period is known as the gross domestic product (GDP). It serves as a thorough evaluation of the state of the economy in a specific nation as it is a wide indicator of total domestic production.

Even while GDP is frequently estimated on a yearly basis, it can also be calculated quarterly. For instance, the government of the United States produces an annual Gross domestic product estimate for the calendar year so each fiscal quarter. Each data set in this report is provided in real terms, which means that it has been corrected for price fluctuations and is thus net of inflation.

Learn more about gross domestic product (GDP) here:

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