Question

In the expenditure approach to calculating GDP, what is the formula for GDP?

Q: Answer-In the expenditure approach to calculating GDP, what is the formula for GDP?

This is the correct formula for GDP in the expenditure approach, where GDP is the sum of consumption C, investment I, government spending G, and net exports exports - imports, denoted as X - M.

A GDP = C + I + G + (X - M)

B GDP = C + I + G - (X - M)

C GDP = C - I + G + (X + M)

D GDP = C - I - G + (X - M)

E GDP = C + I - G - (X + M)

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In the expenditure approach to calculating GDP, what is the formula for GDP?

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