Question
Which of the following is NOT a component of the
expenditure approach to calculating Gross Domestic Product (GDP)?Solution
The expenditure approach to calculating GDP includes consumption expenditure (spending by households), investment expenditure (spending by businesses), government expenditure (spending by the government), and net exports (exports minus imports). Transfer payments, such as social security benefits or unemployment compensation, are not included in GDP as they do not represent the production of new goods or services.
Where were the Sagar Bhavan and Polar Bhavan facilities inaugurated?
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Consider the following statements about the NPCI's global initiatives:
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Former Chief Minister of _____ and veteran Congress leader and Hemananda Biswal passed away.Â
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