Two equivalent ways to view GDP are as the:
A) total payments made to all workers in the economy or the total profits of all firms and businesses in the economy.
B) total expenditures on all goods produced in the economy or the total income earned from producing all services in the economy.
C) total profits of all firms and businesses in the economy or the total consumption of goods and services by all households in the economy.
D) total income of everyone in the economy or the total expenditure on the economy's output of goods and services.

Question

Quizplus · Accepted Answer

GDP can be viewed either as the total income earned by everyone in the economy, including wages, salaries, and profits, or as the total expenditure on the economy's output of goods and services, including consumption spending, investment spending, government spending, and net exports. Option D captures both of these equivalent ways to view GDP.

Two Equivalent Ways to View GDP Are as The