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Question Practice

The process of adding together the value of all goods and services produced in an economy to determine GDP is known as what?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 12
Economics
Introductory Macroeconomics
National Income Accounting
Question Bank

The process of adding together...

Single Answer MCQ
Q-00106698

The process of adding together the value of all goods and services produced in an economy to determine GDP is known as what?

1

Production approach

2

Expenditure approach

3

Income approach

4

Market approach

Previous QuestionNext Question
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Q1.

What does GDP stand for?

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Q2.

Which of the following is NOT included in GDP calculation using the expenditure method?

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Q3.

In the expenditure method, which component represents expenditures by households?

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Q4.

What is the formula for GDP using the expenditure method?

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