Which approach to measuring GDP is being used when Statistics Canada sums spending on goods and services for consumer goods,government,business investments and exports,net of imports?

Question

Quizplus · Accepted Answer

The approach described is the expenditure approach, which adds up all of the spending on goods and services within an economy, including consumption by households, government spending, investment by businesses, and exports net of imports. This is used to calculate the total value of goods and services produced within an economy in a given time period, which is GDP.

Which Approach to Measuring GDP Is Being Used When Statistics