Page 23 - Macroeconomics. book docx_Neat

D. One year

Answer: D

6. The expenditure approach calculates GDP using:

A. Wages and profits

B. Value added

C. Total spending

D. Total production only

Answer: C

7. In the expenditure approach, C refers to:

A. Capital

B. Consumption

C. Cost

D. Credit

Answer: B

8. Which component represents government spending?

A. C

B. I

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