ЁЯУв Too many exams? DonтАЩt know which one suits you best? Book Your Free Expert ЁЯСЙ call Now!
  • google app store apple app store
    • тЬЦ

      Question

      What is/are the way/s in which GDP- Gross Domestic

      Product be calculated?
      A The Income Approach Correct Answer Incorrect Answer
      B The Expenditure Approach Correct Answer Incorrect Answer
      C The Income Approach & Output Approach Correct Answer Incorrect Answer
      D The Expenditure Approach & Output Approach Correct Answer Incorrect Answer
      E The Expenditure Approach, Income Approach & Output Approach Correct Answer Incorrect Answer

      Solution

      The expenditures approach says GDP= consumption + investment + government expenditure + exports - imports. The income approach sums the factor incomes to the factors of production. The output approach is also called the "net product" or "value added" approach.

      Practice Next
      More Economics Questions
      ask-question