The approach to calculating GDP that measures the contribution of each firm to GDP is referred to as the
a. expenditures approach to measuring GDP
b. factor payments approach to measuring GDP
c. value added approach to measuring GDP
d. productivity approach to measuring GDP
e. output approach to measuring GDP
C
Economics
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When transportation costs fall, consumer prices have a tendency to rise
Indicate whether the statement is true or false
Economics
Indy has a price elasticity of demand for beer of 1.00. Suppose the price of each beer is increased by 10 percent. What will happen to the total amount Indy spends on beer?
A. It will decrease 10 percent. B. It will not change. C. It will increase 10 percent. D. It is impossible to tell.
Economics