The Three Methods for Computing GDP Include

question 84

Multiple Choice

The three methods for computing GDP include

• A) the expenditure approach,the value-added approach,and the factor payments approach
• B) the expenditure approach,the value-added approach,and the productivity approach
• C) the productivity approach,the value-added approach,and the factor payments approach
• D) the expenditure approach,the productivity approach,and the factor payments approach
• E) the output approach,the productivity approach,and the factor payments approach

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Definitions:

Situational Circumstances

The specific conditions or factors that are present and affect behavior and outcomes at any given time.

Personal Circumstances

The specific conditions or facts affecting an individual's life, which may influence their behavior, decisions, and opportunities.

Daily Life

The routine or day-to-day activities, tasks, and interactions that constitute an individual's regular existence.

Impressions

The immediate thoughts or feelings that are elicited in a person upon encountering something or someone for the first time.