The Expenditures Approach to Calculating GDP Sums Consumer Spending,gross Private

question 264

Multiple Choice

The expenditures approach to calculating GDP sums consumer spending,gross private domestic investment,government:

• A) spending,and exports.
• B) spending,and imports.
• C) spending,and exports minus imports.
• D) transfers,and imports minus exports.

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Definitions:

Birth Parents

The biological parents of an individual, as opposed to adoptive parents or caregivers, regardless of their involvement in the individual's upbringing.

Adoptive Parents

Individuals who legally take on the responsibility of raising a child not born to them biologically.

Parenthood

The state or experience of being a parent and raising children.

Economic Recession

A period of temporary economic decline during which trade and industrial activities are reduced, generally identified by a fall in GDP in two successive quarters.