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:

Fixed Order

A predetermined sequence that must be followed, commonly referring to steps in a process or procedure.

Universal

A characteristic or condition that is present in all people or things in a particular group or category.

Preoperational Stage

The Preoperational Stage is the second stage in Piaget's theory of cognitive development, where children ages 2 to 7 begin to engage in symbolic play but lack the ability to perform operations or think logically.

Concrete Operational

A stage in Piaget's theory of cognitive development where children from about 7 to 12 years old develop logical thinking but still struggle with abstract concepts.