GDP Can Be Calculated by All of the Following Methods

question 96

Multiple Choice

GDP can be calculated by all of the following methods except

• A)Adding up the spending on goods and services by business,government,households,and foreigners,and subtracting imports.
• B)Adding up the "value added" at every stage of production in the economy.
• C)Adding up all of the receipts of households,government,and business.
• D)Adding up all income and expenses by consumers and businesses.

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Definitions:

Automation

The shift toward converting work that was traditionally done by hand to being completed by mechanical or electronic devices.

Obsolete

Referring to a product, service, or technology that has become outdated or no longer used, often because it has been replaced by newer alternatives.

Proactive Employers

Organizations or managers who anticipate future challenges or opportunities and act in advance to address them, rather than reacting to events as they happen.

Working Conditions

Encompasses the environment in which an individual works, including aspects like safety, hours, and physical demands.