GDP can be calculated as
A) output.
B) expenditures.
C) income.
D) output and income only.
E) output, expenditures, and income.

Question

Quizplus · Accepted Answer

GDP can be calculated using three methods: output approach (the value of goods and services produced), expenditure approach (the sum of all expenditures on goods and services), and income approach (the sum of all income earned in the economy). Therefore, the best choice is E, which includes all three methods.

GDP Can Be Calculated as