Which of the following is true regarding the measurement of GDP?
A) Consumption and investment are used in the income approach to GDP.
B) Investment and wages are expenditures , and are therefore are used in the expenditure approach to GDP.
C) Wages and consumption are used in the expenditure approach to GDP.
D) Government expenditure is only counted in the income approach to GDP.
E) Wages and profit income are used in the income approach to GDP.
Correct Answer:
Verified
Q1: Undistributed profits-------------counted as part of GDP because-------------
A)are;
Q2: Janet calculated the GDP growth rates for
Q3: Real GDP measures the value of goods
Q5: The base year is 2011. A country
Q6: How are final goods and services valued
Q7: Which of the following goods and services
Q8: In calculating GDP, we must
A)add the market
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