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What is the expenditure approach to measuring GDP? Write the formula for GDP when using the expenditure approach. Define, explain and give a real-world example

What is the expenditure approach to measuring GDP?

Write the formula for GDP when using the expenditure approach.

Define, explain and give a real-world example of each of the five variables included in the formula.

What is double counting?

What are intermediate goods?

Explain how the expenditure approach avoids double counting.

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