GDP Using the Expenditure Approach Equals the Sum of Personal

question 303

Multiple Choice

GDP using the expenditure approach equals the sum of personal consumption expenditures plus

• A) gross private investment.
• B) gross private investment plus government expenditure on goods and services.
• C) gross private investment plus government expenditure on goods and services minus imports of goods and services.
• D) gross private investment plus government expenditure on goods and services plus net exports of goods and services.

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Definitions:

Presidential Election

A democratic process in which citizens vote to elect the President of a country.

Judicial Activism

A judicial philosophy advocating judges making decisions that go beyond the strict interpretation of the law to encompass societal needs or real-world outcomes.

Supreme Court

The highest federal court in the United States, consisting of nine justices and having jurisdiction over all other courts in the nation.

Judicial Restraint

A legal philosophy that courts should limit their power to making decisions that are strictly in accordance with the law and the Constitution, avoiding activism or extensive interpretation.