Which One of the Following Is Not a Component of GDP

question 74

Multiple Choice

Which one of the following is not a component of GDP, as measured using the expenditure approach?

• A) personal consumption
• B) exports
• C) interest
• D) government spending

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Definitions:

Cost Model

An accounting method used to value an asset based on its historical cost minus any accumulated depreciation.

Revaluation Model

An accounting method that allows for the upward adjustment in the carrying value of a fixed asset to reflect its current market value.

AASB 6 Scope

Refers to the coverage or applicability boundaries of the AASB (Australian Accounting Standards Board) 6, which deals with the exploration for and evaluation of mineral resources.

Exploration Expenditures

Costs incurred in the search for mineral resources, including the cost of drilling, sampling, and preliminary surveying, before the development stage of mining operations.