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Anna35 [415]
4 years ago
5

How do economists calculate GDP for one year using the expenditure approach?

Business
1 answer:
never [62]4 years ago
3 0

The expenditure method is the most widely used approach for estimating GDP, which is a measure of the economy's output produced within a country's borders irrespective of who owns the means to production. The GDP under this method is calculated by summing up all of the expenditures made on final goods and services.

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