Chartered Investment Manager (CIM) Practice Exam · Question
Which of the following components is accounted for when calculating Canada's Gross Domestic Product (GDP) using the expenditure approach?
The expenditure approach to calculating GDP sums up total spending on final goods and services in an economy. Its components are Consumption, Investment, Govern
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Question: Which of the following components is accounted for when calculating Canada's Gross Domestic Product (GDP) using the expenditure approach?
Answer options:
- Transfer payments to individuals
- Intermediate goods and services used in production ✅ Net exports (exports minus imports)
- Income earned by foreign companies operating in Canada
Correct answer: Net exports (exports minus imports)
Explanation: The expenditure approach to calculating GDP sums up total spending on final goods and services in an economy. Its components are Consumption, Investment, Government Spending, and Net Exports (Exports - Imports). Transfer payments and intermediate goods are excluded.
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