Which Equation Summarizes the Expenditures Approach to Measuring GDP

question 56

Multiple Choice

Which equation summarizes the expenditures approach to measuring GDP?

• A) Y = C + S
• B) total spending = total income
• C) GDP = C + I + G + (X - M)
• D) GDP = net domestic product + depreciation

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Definitions:

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Hierarchy Of Needs

A theory proposed by Abraham Maslow outlining a five-tier model of human needs, ranging from basic physiological needs to self-actualization.

Dichotomy Corollary

A principle suggesting that psychological phenomena are often best understood by exploring the dualities or dichotomies that exist within them.

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