The Expenditure Approach to Measuring GDP Is Based on Summing

question 17

Multiple Choice

The expenditure approach to measuring GDP is based on summing

• A)wages,interest,rent,and profit.
• B)each industry's production.
• C)the total values of final goods,intermediate goods and services,used goods,and financial assets.
• D)consumption expenditure,investment,government expenditure on goods and services,and net exports of goods and services.
• E)consumption expenditure,investment,government expenditure on goods and services,and net exports of goods and services minus wages,interest,rent,and profit.

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Definitions:

Direct Adjustment

A statistical method used to eliminate the effects of confounding variables by standardizing to a common distribution.

Indirect Adjustment

A statistical method used to control or modify the effects of confounding variables on a primary relationship of interest by applying correction factors derived from external data.

Infant

A child in the earliest stage of life, typically defined as being from birth up to one year of age.

Age-Adjusted Mortality Rate

A mortality rate statistically modified to eliminate the effect of different age distributions in different populations.