Assume you have the following data for a hypothetical country for a specific year (in billions of ZAR):Wages and Salaries: R2,500Interest: R300Rent: R200Profits: R1,000Taxes (Indirect Taxes Minus Subsidies): R400Depreciation: R500Given the data above, which of the following methods of calculating Gross Domestic Product (GDP) may beused?A. Expenditure approachB. Income approachC. Product approachD. Trade approach

Survey of Economics (MindTap Course List)
9th Edition
ISBN:9781305260948
Author:Irvin B. Tucker
Publisher:Irvin B. Tucker
Chapter11: Gross Domestic Product
Section: Chapter Questions
Problem 13SQ
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Assume you have the following data for a hypothetical country for a specific year (in billions of ZAR):
Wages and Salaries: R2,500
Interest: R300
Rent: R200
Profits: R1,000
Taxes (Indirect Taxes Minus Subsidies): R400
Depreciation: R500
Given the data above, which of the following methods of calculating Gross Domestic Product (GDP) may be
used?
A. Expenditure approach
B. Income approach
C. Product approach
D. Trade approach 

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