GDP Using the Expenditure Approach Equals the Sum of Personal

question 303

Multiple Choice

GDP using the expenditure approach equals the sum of personal consumption expenditures plus

• A) gross private investment.
• B) gross private investment plus government expenditure on goods and services.
• C) gross private investment plus government expenditure on goods and services minus imports of goods and services.
• D) gross private investment plus government expenditure on goods and services plus net exports of goods and services.

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Definitions:

United States

The United States is a federal republic in North America, comprising 50 states, a federal district, five major self-governing territories, and various possessions.

Parental Leave

The period of time that a parent is allowed away from work to care for a newborn or newly adopted child, often while retaining one's job and sometimes receiving pay or benefits.

Industrialized Countries

Nations characterized by a robust industrial sector, advanced technological infrastructure, and higher levels of income and quality of life compared to less industrialized nations.

Unpaid Leave

A period of time that a worker is allowed to be away from their job without receiving salary or wages.