Question

questions 12-15 please

писто по 5000 просмопс по ссоопту: Indirect business taxes and capital consump- tion allowance are not income, yet they are included in order to find GDP as income received. Why do we add these two non- income components to the other components of income (like wages, rent, interest, profits, and net factor income from abroad) to find GDP? Why has nominal GDP increased faster than real GDP in the United States over time? What would it mean if an economy had real GDP increasing faster than nominal GDP? We usually discuss GDP in terms of what is included in the definition. What is not included in GDP? Why are these things excluded? 15. If a surfboard is produced this year but not sold until next year, how is it counted in this year's GDP and not next year's? group will define its measure and tell how it dif- ble La

Answer 1

As per Chegg guidelines, in case of multiple questions only the first question is to be answered

Kindly ask rest of the questions in a separate post.

12.

Indirect business taxes are taxes collected by firms and businesses. They are not a part of direct income but since they are collected indirectly, they are taken into account while calculating GDP through income approach. It calculates GDP at market prices.

Capital consumption allowance, or depreciation, is the money spent to maintain production, and not increase it. It is added to NDP to find GDP

Thus, these two components are added while calculating GDP through income approach.