Which of the following is NOT a component of GSDP as calculated by the income approach?

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ACompensation of employees

BOperating surplus

CMixed income of the self-employed

DGovernment transfers

Answer:

The income approach sums up the incomes earned from production factors (wages, profits, rent).
Government transfer payments are a redistribution of income, not an income generated from current production, so they are not included.

Related Questions:

Regarding the redistribution of remittances and improvement in living standards in Kerala, identify the correct statements.

Militant agitation and redistribution policies have played a role in ensuring remittances trickle down to weaker sections of society.
Remittances alone, without any policy intervention, would have automatically ensured equitable redistribution and improved living standards for all.
The trickle-down effect of remittances has contributed to improving the living standards across different sections of society.