Question

please explain to me the definition of output approach, income approach, expenditure approach in a simple way. it's a request I actually beg you guys ... ​

Answer 1

Answer:

The income approach states that all economic expenditures should equal the total income generated by the production of all economic goods and services. The alternative method for calculating GDP is the expenditure approach, which begins with the money spent on goods and services.

Explanation:

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