In a small country, wages earned by workers amount to $500 billion. Profits from businesses amount to $200 billion. What other data should one investigate to calculate the country's GDP using the income approach?

The income approach adds the income earned from producing goods and services, including wages, business profits, rent, and other income. Since wages and profits are already known, you should investigate rental income from properties. Household spending and government spending are components of the expenditure approach, while trade deficits are not income earned by domestic production.

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