1.12 A method of measuring gross domestic product that holds us the Total remuneration for all the factors of production is called. \( \text{ } \) method. A - expenditure B - production C - nominal D - income

The correct answer is D - income. The income method measures gross domestic product by adding up all the incomes earned by individuals and businesses in the economy during a specific period. This includes wages, profits, rents, and taxes, minus subsidies. It's a fundamental way to understand how resources are distributed within an economy! To put it into real-world perspective, businesses and governments use the income method to assess the economic health of a region. By analyzing income levels, they can make informed decisions about taxation policies, social welfare programs, and economic development initiatives aimed at boosting growth and improving living standards.