Explain how gross domestic product is calculated using the income approach and the expenditure approach. Compare...

 

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Explain how gross domestic product is calculated using the income approach and the expenditure approach. Compare the classical economic theory that was used prior to the Great Depression to the Keynesian theory used after the Great Depression. Explain how gross domestic product is calculated using the income approach and the expenditure approach. Compare the classical economic theory that was used prior to the Great Depression to the Keynesian theory used after the Great Depression.

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Gross Domestic Product GDP measures the total value of all final goods and services produced within a countrys borders during a specific period typically a year or a quarter There are three primary ap... View the full answer