The two ways of measuring Gross Domestic Product are the __________ approach and the __________ approach.
A) expenditure; income
B) expenditure; national product
C) national product; income
D) real gross domestic product; nominal gross domestic product
E) net national product; personal income

Question

Quizplus · Accepted Answer

The expenditure approach measures GDP by summing up all expenditures made on final goods and services within a country, while the income approach calculates GDP by adding up all incomes generated from producing those goods and services.

The Two Ways of Measuring Gross Domestic Product Are the __________