To Calculate GDP Using the Expenditure Approach, in Part It

question 138

Multiple Choice

To calculate GDP using the expenditure approach, in part it is necessary to

• A) add imports and exports.
• B) add imports and subtract exports.
• C) add exports and subtract imports.
• D) subtract both exports and imports.

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Definitions:

Corporate Interests

Encompasses the goals, priorities, and objectives that a company seeks to achieve, often focusing on profitability, growth, and market dominance.

Production Industry

The sector of the economy that is concerned with the manufacture, processing, and preparation of products from raw materials.

Horizontal Integration

A business strategy where a company acquires or merges with other companies at the same level in the production process or supply chain to increase market share and reduce competition.

Vertical Integration

A strategy where a company expands its operations into different steps on the same production path, such as when a manufacturer owns its supplier and/or distributor.