To measure GDP using the expenditure approach you must collect data on

Question

Quizplus · Accepted Answer

The expenditure approach to measuring GDP involves summing up all expenditures made on final goods and services over a period of time. Exports are a component of this approach, as they represent goods and services produced domestically but purchased by foreigners. Other components include consumption, investment, and government spending, but not directly inflation, wages, or saving as these do not represent expenditures on final goods and services in the same direct way.

To Measure GDP Using the Expenditure Approach You Must Collect