Two ways of measuring Gross Domestic Product are the __________ approach and the __________ approach.
A) expenditure; income
B) expenditure; national product
C) national product; income
D) net national product; personal income

Question

Quizplus · Accepted Answer

The expenditure approach measures GDP by adding up all of the spending in the economy, including consumption, investment, government spending, and net exports. The income approach measures GDP by adding up all of the income earned in the economy, including wages, profits, and rent.

Two Ways of Measuring Gross Domestic Product Are the __________