Question
What's the differences between the Expenditures Approach and the Resource-Cost Income Approach when measuring G.D.P ?? I have thought The expenditure approach is a method
What's the differences between theExpenditures Approachand theResource-Cost IncomeApproachwhen measuringG.D.P??
I have thought
The expenditure approach is a method of measuring GDP by calculating all spending throughout the economy including consumer consumption, investing, government spending, and net exports. In other words, this method measures what our country produces by assuming that the finished goods and services of a country equals the amount spent in the country for that time period, while the resource cost income approach measures GDP by gross domestic household income (GNP + indirect business taxes + depreciation + net income of foreigners*).
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