1. Adding up all wages, rent, interest, and profits is called the __________ approach, while adding up all the sources of spending is called the ___________ approach to national economic accounting.
output; domestic output
income; national income
2. Which one of the following is subtracted from personal income to get disposable income?
A. Private sector salaries
B. Income stabilizing household transfer payments (aka income security)
Public sector salaries
3. Which is not part of “I” in the GDP calculation?