In Calculating GDP by the Expenditure Approach, We Sum Up

question 7

Multiple Choice

In calculating GDP by the expenditure approach, we sum up:

• A)consumption, investment, government purchases, exports, and imports.
• B)investment, government purchases, consumption, and net exports.
• C)consumption, investment, wages, and rents.
• D)consumption, investment, government purchases, and imports.

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Definitions:

Equitable Remedy

A form of justice administered according to fairness as contrasted with strictly formulated rules of common law.

Specific Performance

A legal remedy in contract disputes where a court orders the party who breached the contract to fulfill their obligations as specifically stated in the contract, rather than just paying damages.

Promised Act

An action that a party commits to carrying out, often referenced in the context of contractual agreements.

Ovulated Cell

Commonly referred to as an ovum or egg cell, it is the female reproductive cell released during ovulation.