Which Approach to Measuring GDP Is Being Used When Statistics

question 65

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 exports,net of imports?

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

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Definitions:

Contribution Margin

The amount remaining from sales revenue after variable expenses have been deducted, indicating how much contributes to the fixed costs and profits.

Scatter Diagram

A graph used in statistics to visually display and assess the possible relationship between two numerical variables.

Visual Line Fit

A method in statistical analysis where a line is visually fitted to a set of data points to assess a potential relationship.

Scatter Diagrams

are graphical representations used in statistics to show the relationship between two variables, displaying data points on a two-dimensional plot.