The Expenditure Approach to Measuring GDP Is Based on Summing

question 112

Multiple Choice

The expenditure approach to measuring GDP is based on summing

• A)each industry's production.
• B)consumption expenditure, investment, government expenditure on goods and services, and net exports of goods and services minus wages, interest, rent, and profit.
• C)the total values of final goods, intermediate goods and services, used goods, and financial assets.
• D)wages, interest, rent, and profit.
• E)consumption expenditure, investment, government expenditure on goods and services, and net exports of goods and services.

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Definitions:

Conceive

To form a notion, idea, or plan in the mind.

Randomly Assigned

Random assignment is a method used in experiments to place participants into different groups using randomization, which helps ensure that each group is similar at the start of the experiment.

Experimental Group

In an experiment, the group that is exposed to the treatment, that is, to one version of the independent variable.

Independent Variable

A factor in a scientific study that is manipulated or changed to observe its effects on the dependent variable.