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:

Secondary Socialization

Socialization outside the family after childhood.

Outside Of The Family

Refers to influences, experiences, or interactions occurring beyond the immediate family environment.

Sensorimotor Stage

The first of Piaget's four stages of cognitive development, occurring from birth to around two years of age, where infants learn about the world through sensory experiences and manipulating objects.

Cognitive Development

The process by which individuals acquire and evolve their abilities in thinking, reasoning, problem-solving, and understanding complex concepts.