The Expenditure Approach Measures GDP by Adding Together

question 43

Multiple Choice

The expenditure approach measures GDP by adding together

• A)the total expenditures of consumers and firms.
• B)the total expenditures of consumers, firms, net exporters, and by governments at all levels.
• C)wages, salaries and supplementary labour income, and other factor incomes.
• D)compensation of employees, rental income, corporate profits, net interest, proprietors' income, indirect taxes paid, and capital consumption expenditures, and by subtracting subsidies paid by the government.
• E)wages, salaries and supplementary labour income, other factor income, subsidies paid by the government, indirect taxes paid, and income of nonfarm unincorporated businesses.

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Definitions:

Cultural Differences

Variations in the customs, beliefs, practices, and social behavior of people from different backgrounds, societies, or cultures.

Jealousy Reasons

Factors that provoke jealousy, often involving feelings of insecurity, fear, or concerns about a lack of resources or attention.

Taste Preferences

An individual’s liking or disliking for certain flavors or types of food, often influenced by genetic factors, experiences, and culture.

Abnormal Conditions

Situations or health conditions that deviate from what is considered normal or typical.