Which Approach to Measuring GDP Is Being Used When Statistics

question 16

Multiple Choice

Which approach to measuring GDP is being used when Statistics Canada sums spending on goods and services for consumer goods, government, business investments and net exports?

• A)opportunity cost approach
• B)factor cost approach
• C)income approach
• D)expenditure approach
• E)value added approach

---

Definitions:

Citizenship

The status of being a member of a country with certain rights and responsibilities under the country's law.

Unjust Enrichment

A legal concept where one person benefits at another's expense without legal justification, necessitating restitution to the aggrieved party.

Employment-At-Will Rule

A legal doctrine stating that an employment relationship can be terminated by either the employer or the employee at any time, for any reason not prohibited by law, without prior notice.

Implied Covenant

A legal agreement that is not explicitly stated but is assumed to exist due to the nature of the transaction or relationship.