marinuneLean
Answered

How does an economist calculate GDP for one year using the expenditure approach?

Aadd together all the amounts spent on final goods and services.
Badd up all the incomes received.
Cadd the amounts spent on goods and services to the incomes received.
Dsubtract the amounts received as income from the goods and services.

Verified Answer :

metchelle

An economist calculates the GDP for one year using the expenditure approach by adding together all the amounts spent on final goods and services. This also includes investments, government consumptions and net exports.
The answer to the question would be choice A.

nancyrai227

1) B (goods used in the production of other goods)

2)A (add together all the amounts..)

3)C (the products and income that are not reported..)

4)D (gasoline)

5)C (Real GDP is based on constant prices; nominal GDP is based on the current year's prices)

100%

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