One way to calculate GDP is the income approach, which
A. adds up all the money spent by all the buyers.
B. adds up all the income collected by all the sellers.
C. adds up all revenue earned by overseas companies.
D. adds up all revenue earned by foreign companies with the nation.

Question

One way to calculate GDP is the income approach, which
	A.	adds up all the money spent by all the buyers.
	B.	adds up all the income collected by all the sellers.
	C.	adds up all revenue earned by overseas companies.
	D.	adds up all revenue earned by foreign companies with the nation.

ricktoraw · Answer

Calculating the nominal GDP as opposed to the real GDP helps clarify actual
	A.	revenue earned in past quarters.
	B.	measure of input in terms of actual revenue.
	C.	earnings achieved through outsourced labor.
	D.	measure of output in terms of actual dollar value.

ricktoraw · Answer

What is the largest category calculated when using the expenditure approach to calculate GDP?
	A.	investment
	B.	net exports
	C.	consumption
	D.	government purchase