To Measure GDP Using the Expenditure Approach You Must Collect

question 48

Multiple Choice

To measure GDP using the expenditure approach you must collect data on

• A) inflation.
• B) wages.
• C) saving.
• D) exports.

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Definitions:

Trust

An arrangement in which title to property is held by one person (a trustee) for the benefit of another (a beneficiary).

Grantor

The person or entity that creates a trust and transfers property into it, or someone who grants or conveys a legal right.

Living Will

A document that allows a person to control the methods of medical treatment that may be used after a serious accident or illness.

Long-term Improvements

Enhancements or upgrades to property or assets that are expected to provide benefits over a period exceeding one year.