The Expenditure Approach to Measuring GDP

question 247

Multiple Choice

The expenditure approach to measuring GDP

• A) adds the dollar value of final goods and services.
• B) adds the income received by all factors of production.
• C) excludes durable consumer goods since they last more than a year.
• D) excludes profits since profits are a cost of production.

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Definitions:

3M Model

A framework that suggests motivation, ability, and opportunity as key factors influencing behavior.

Magnet Approach

A marketing strategy that attracts customers by offering valuable content, services, or experiences, rather than through direct sales pitches.

Consumer Engagement

The relationship between consumers and a brand or product, often manifested through interactive or participatory activities.

UGC Campaigns

User-Generated Content (UGC) campaigns involve the creation and promotion of content by unpaid contributors or fans, often used for marketing purposes.