Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Which of the following is NOT correct about the methods to measure the GDP of an economy? Question 4 Answer a. Total spending on domestic

Which of the following is NOT correct about the methods to measure the GDP of an economy? Question 4 Answer a. Total spending on domestic products is the sum of all domestic spending from domestic households, firms, and the government on the home economy's products. b. Spending by foreign residents on the home country's products is part of the total spending on the home country's products. c. Total domestic income is the sum of all the incomes received by workers and employees including the self-employed, by businesses, and by the government. d. Value added to total domestic production is the difference between the value of output and the value of all inputs (called intermediate goods)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Foundations Of Global Financial Markets And Institutions

Authors: Frank J. Fabozzi, Frank J. Jones, Francesco A. Fabozzi, Steven V. Mann

5th Edition

0262039540, 978-0262039543

More Books

Students also viewed these Economics questions

Question

4. What is the goal of the others in the network?

Answered: 1 week ago

Question

2. What we can learn from the past

Answered: 1 week ago