Question

All of the following are measures of GDP except the total: a. income from all production in the economy. b. expenditures on all final goods and services produced. c. expenditures of all businesses in the economy. d. value of all final production.

Answer 1

Answer:

 c. expenditures of all businesses in the economy.

Explanation:

GDP is the sum of all final goods and services produced in an economy within a given period which is usually a year.

GDP can be calculated in 3 ways:

1. Expenditure approach : consumption spending + Investment spending + Government Spending + Net Export

expenditures of all businesses in the economy is used in the calculation of GDP using the expenditure approach.

2. Income approach: it is the sum of all income from all production in the economy.

3. Value added approach: it is sum of the value of all final production.

I hope my answer helps you