GDP using the expenditure approach equals the sum of personal consumption expenditures plus
A) gross private investment.
B) gross private investment plus government expenditure on goods and services.
C) gross private investment plus government expenditure on goods and services minus imports of goods and services.
D) gross private investment plus government expenditure on goods and services plus net exports of goods and services.
D
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The structural deficit/surplus budget
a. measures the federal budget deficit/surplus as if the economy were at full employment. b. measures the federal budget deficit/surplus as if the economy were in recession. c. measures the federal budget deficit/surplus as if the economy were suffering from high inflation. d. is used when structural unemployment is at a peak.
The GDP deflator:
A. measures price changes for everything produced in the country. B. may include goods produced abroad. C. is computed using the quantities that are consumed in the economy each year. D. is the same as PPI.