All of the Following Are Components of the Expenditure Approach

question 228

Multiple Choice

All of the following are components of the expenditure approach to measuring GDP EXCEPT

• A) Shaniq's purchase of a meal at the Olive Garden in Atlanta.
• B) a Senator from Iowa being paid the monthly salary.
• C) the army buying new M1 Abram tanks.
• D) Ford Motor Company buying new Dell computers for use in its marketing department in Dearborn, Michigan.

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Definitions:

FTC

Stands for Federal Trade Commission, an independent agency of the United States government aimed at promoting consumer protection and the elimination and prevention of anticompetitive business practices.

Material Misrepresentations

False statements or omissions of significant facts that, if known, could influence the decision of the party to whom they are made.

European Union

A political and economic union of 27 member states that are located primarily in Europe, established to foster economic cooperation and has its own currency, the euro, used by 19 of its member states.

Misleading Advertising

Promotional activities that deceive or trick the audience into believing something that is not true or not entirely accurate.