The income approach of calculating GDP is the most practical.

A: TRUE

B: FALSE

It is true that the income approach of calculating GDP is the most practical.

Answer: Option A

Explanation:

In order to measure or quantify the economic growth of the country, it is imperative that we know all the sources of income as well as expenditures incurred by the government and then calculate the Gross Domestic Product.

GDP can be calculated using various methods but income method is a most practical method as while calculating the GDP it takes into account all the expenditures incurred in the economy as well as the income from all the four factors or modes of production.