GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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There is only one way of calculating GDP.
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True
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False
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Either A or B
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None of the above
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Explanation:
Detailed explanation-1: -GDP Formula The formula for calculating GDP with the expenditure approach is the following: GDP = private consumption + gross private investment + government investment + government spending + (exports – imports).
Detailed explanation-2: -The formula for GDP is: GDP = C + I + G + (X-M). C is consumer spending, I is business investment, G is government spending, and (X-M) is net exports.
Detailed explanation-3: -Detailed Solution. The correct answer is Prime Cost Method. The Prime cost method is used to measure depreciation in the value of an asset.
There is 1 question to complete.