ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Whcih of the following would count in “I” for the GDP expenditure approach?
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Mr. Coleman buys a new pair of pink pants
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Ford opens up a new factory in Idaho
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The IRS purchases new laptops for all of their tax auditors
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Taco Bell closes down 10 stores in Virginia
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Explanation:
Detailed explanation-1: -When using the expenditures approach to calculating GDP the components are consumption, investment, government spending, exports, and imports.
Detailed explanation-2: -Government transfer payments are not included when measuring GDP using an expenditure approach.
Detailed explanation-3: -The four components of gross domestic product are personal consumption, business investment, government spending, and net exports.
Detailed explanation-4: -The income method measures GDP by adding together: The Gross Profit of companies and the Self-Employed, plus the wages of employees (Compensation of Employees). plus all Taxes on Products like VAT.
There is 1 question to complete.