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2 August, 13:04

How do economists calculate GDP for one year using the expenditure approach?

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  1. 2 August, 13:18
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    The expenditure method is the most widely used approach for estimating GDP, which is a measure of the economy's output produced within a country's borders irrespective of who owns the means to production. The GDP under this method is calculated by summing up all of the expenditures made on final goods and services.
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