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GDP Can Be Calculated from Either the Expenditure Approach or the Income

Question 3

Multiple Choice

GDP can be calculated from either the expenditure approach or the income approach because


A) only the expenditures on final goods and services are included in GDP.
B) every payment by a buyer is, at the same time, a receipt for the seller.
C) GDP includes all income that is received by all individuals located in a country, regardless of whether or not the income is a payment for current production.
D) GDP includes the value of all final goods and services produced by a country's citizens, regardless of where the goods and services are produced.

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