Explain the approach (expenditure or income) that you used to calculate GDP The table lists some macroeconomic data for the United States in 2016 Item Wages Consumption expenditure Other factor incomes Investment Government expenditure Net exports Billions of dollars 9,908 12,498 4,567 3,037 3,254 ...

Explain the approach (expenditure or income) that you used to calculate GDP. The table lists some macroeconomic

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Explain the approach (expenditure or income) that you used to calculate GDP.

The table lists some macroeconomic data for the United States in 2016. image text in transcribed

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Question Posted: Jan 27, 2024 10:02 PM

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Explain the approach (expenditure or income) that you used to calculate GDP. The table lists some macroeconomic

Question:

Item Wages Consumption expenditure Other factor incomes Investment Government expenditure Net exports Billions of dollars 9,908 12,498 4,567 3,037 3,254 -507

Step by Step Answer:

The Gross Domestic Product GDP can be calculated using different approaches the expenditure approach the income approach and the production or output ...View the full answer

Economics

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