Author Question: The Department of Commerce sums the payments made to resources to arrive at GDP in the form of ... (Read 54 times)

ARLKQ · **on:** Jun 30, 2018

The Department of Commerce sums the payments made to resources to arrive at GDP in the form of wages, rents, interest, profits, indirect taxes, and depreciation. This method of deriving GDP is called the:
a. opportunity cost approach.
b. income approach.
c. expenditure approach.
d. monetarist approach.

Question 2

Using the expenditure approach, GDP equals:
a. C + I + G + (X M).
b. C + I + G + (X + M).
c. C + I G + (X M).
d. C + I + G (X M).