GDP Can Be Calculated Using

question 280

Multiple Choice

GDP can be calculated using

• A) the expenditure approach and the production approach.
• B) the expenditure approach and the income approach.
• C) the expenditure approach and the factor of production approach.
• D) the expenditure approach and the resource approach.

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Definitions:

Incentive

Something that motivates or encourages someone to do something.

Biological Deficiency

A condition where an organism lacks a substance or element necessary for its growth, maintenance, or functioning.

Achievement

Successfully reaching a goal through effort, skill, or courage, often recognized by some form of acknowledgment or reward.

Money

A medium of exchange, in the form of coins and banknotes, used to facilitate transactions for goods and services.