When measuring GDP using the income approach, indirect taxes are: added because their value is not included in the main income components of GDP. subtracted because their value is already included in the main income components of GDP. added because they represent income to government agencies. subtracted because they represent net subsidies pay by government agencies. not relevant for the income approach but should be included when calculating the expenditure approach.

When measuring GDP using the income approach, indirect taxes are: added because their value is not included in the main income components of GDP. subtracted because their value is already included in the main income components of GDP. added because they represent income to government agencies. subtracted because they represent net subsidies pay by government agencies. not relevant for the income approach but should be included when calculating the expenditure approach.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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