Which of the following is not an approach in measuring GDP?Group of answer choicesValue added approachIncome approachExpenditure approachBusiness cycle approach

In the first class, we learned different approaches to measuring GDP. Which of the following methods are commonly used to calculate GDP？This is a multi answer question. You can select one or more options as the answer.A.Expenditure methodB.Income methodC.Value-added (production) methodD.Product calculation method

Which of the following is part of the expenditure approach to measuring national income?Multiple choice question.RentWagesInvestmentProfits

The expenditure approach is normally linked to which of the following?Multiple choice question.GDP at market pricesGDP at factor costGDP at basic pricesGDP at factories cost

What might be missing considerations in GDP (Gross Domestic Product) measurement. Select all of the correct answersGroup of answer choicesLove based work and volunteer workRewarding production and consumption without considering wasteDebtShort term gainsNone of the above

GDP can be calculated in three different ways, which of the following option is incorrect?A.GDP calculation methods include expenditure method, income method, and value-added (production) method.B.In Income method, the GDP calculating formula is   Y=wages+ firm profitsC.In Value-added (production) method, GDP equals to the sum of value added by all firms where value added is VA=revenue-input cost- wages+ profitsD.In Expenditure method, Y=C+I+G+NX