ECONOMICS
GDP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The expenditure approach to measuring GDP is done by using data on only
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consumption expenditure and investment.
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consumption expenditure, investment, government expenditures on goods and services, and net exports of goods and services.
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consumption expenditure, investment, and government expenditures.
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wages, rent, interest, and profit.
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Explanation:
Detailed explanation-1: -The expenditure approach of GDP is defined as private final consumption expenditure + government final consumption expenditure + gross capital formation + exports-imports.
Detailed explanation-2: -When using the expenditures approach to calculating GDP the components are consumption, investment, government spending, exports, and imports.
Detailed explanation-3: -The income approach and expenditure approach are both measures used in determining the GDP. Using both approaches allows analysts to create a comparison between the two and amend any noticeable errors.
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