Approaches to measuring GDP include
A)GDP approach.
B)cost approach.
C)income approach.
D)value-subtracted approach.
E)trade approach.

Question

Quizplus · Accepted Answer

The income approach is considered the most comprehensive approach to measuring GDP as it calculates GDP by summing up all the income generated by the production of goods and services in an economy. This includes wages, salaries, profits, and taxes. The other approaches listed are less commonly used or less comprehensive in their coverage of economic activity.

Approaches to Measuring GDP Include