the three approaches to measuring GDP are called the
A)accounting approach, the statistical approach, and the product approach.
B)product approach, the income approach, and the expenditure approach.
C)product approach, the cost approach, and the expenditure approach.
D)accounting approach, the income approach, and the expenditure approach.
E)accounting approach, the statistical approach, and the income approach.

Question

Quizplus · Accepted Answer

The three approaches to measuring GDP are the product approach (measuring output), the income approach (measuring income generated by production), and the expenditure approach (measuring spending on goods and services). Option B correctly identifies these three approaches.

The Three Approaches to Measuring GDP Are Called the