Gross domestic product can be calculated
A) by adding up the value of all intermediate goods used in the economy.
B) by adding up the personal consumption of all members of society and government expenditure on goods and services.
C) by adding up the income tax returns of all members of the society.
D) either by valuing the nation's output of goods and services or by valuing the income generated in the production process.
Correct Answer:
Verified
Q105: The circular flow diagram shows that
A)the total
Q106: To measure GDP using the expenditure approach
Q107: If consumption expenditures are $500 million, net
Q108: A country that has a large real
Q109: Which of the following is NOT part
Q111: All of the following household expenditures are
Q112: In the country of Darrowby, net domestic
Q113: In the circular flow diagram, aggregate expenditure
Q114: An indirect tax is a tax paid
Q115: If imports are $100 million less than
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents