One way to calculate GDP is the income approach, which

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Elsa Mcdonald

27 August, 13:24

One way to calculate GDP is the income approach, which

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Kianna Burke · Answer 1

1 There are three ways of calculating GDP - all of which in theory should sum to the same amount:

2 National Output = National Expenditure (Aggregate Demand) = National Income.

3 (i) The Expenditure Method - Aggregate Demand (AD)

4 GDP = C + I + G + (X-M) where.

5 The Income Method - adding together factor incomes.