Question

For each, indicate the dollar value that each

contributes to each component of GDP. Assume that everyone in
society gets page a wage of $10 per hour for their market labour.
If an item does not contribute to GDP, write "none"

Answer 1

The contribution of labour, capital and entrepreneurship in GDP:

Labour: the value added by workers' work, measured in

wages, salaries and self-employment incomes

Capital: the value added by capital (or

inputs) paid by the capital owners

Entrepreneurship: the contribution of

entrepreneurs to create a business and the

productivity to create income that cannot

be attributed to capital or workforce

Contribution of labour: 50%

Contribution of capital: 33%

Contribution of entrepreneurship: 17%

Step-by-step explanation: