The two approaches used by government in estimating GDP are:
A) statistical and nonstatistical.
B) survey and nonsurvey.
C) income and earnings.
D) expenditure and income.

Question

Quizplus · Accepted Answer

The two approaches used by government in estimating GDP are expenditure and income. Expenditure approach adds up all the spending in the economy, while the income approach adds up all the income generated in the economy. Together, these two approaches provide a comprehensive view of the economy's production and income.

The Two Approaches Used by Government in Estimating GDP Are