| Gross Domestic Product
Which of the following is true regarding Gross Domestic Product?
a. It can only be measured from the flow of total spending.
b. It can only be measured from the flow of total income in the economy.
c. It can be measured either from total spending or total expenditure.
d. It is calculated by computing total spending and total income; the larger of the two figures is counted as GDP.
e. It can only be measured from the stock of total wealth.
I think this answer is "D". This is the formula I have...GDP = consumption + gross investment + government spending + (exports − imports). I just don't know if it can only be total spending and total income and then the larger number is GDP. I didn't read that last part anywhere.
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Linear Mode
