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1.) Select which part of the expenditures approach of calculating the GDP is being described: All private consumption in a nation's economy is part of this expenditures approach for calculating the GDP.


sum of all the country's businesses spending on capital

gross imports

consumer spending

sum of government spending

gross exports

2.)Select which part of the expenditures approach of calculating the GDP is being described: Purchase of weapons for the military is part of this expenditures approach for calculating the GDP.


consumer spending

gross imports

sum of all the country's businesses spending on capital

gross exports

sum of government spending

Respuesta :

anthougo

Answer:

Selection of the part of the expenditures approach of calculating the GDP is being described:

1. All private consumption in a nation's economy is part of this expenditures approach for calculating the GDP.

=

consumer spending

2. Purchase of weapons for the military is part of this expenditures approach for calculating the GDP.

=

sum of government spending

Explanation:

The expenditures approach to Gross Domestic Product (GDP) is calculated as consumption + investment + government expenditure + exports – imports.  Consumption refers to the consumer spending while Investment refers to the sum of all the country's businesses spending on capital.

Private consumption is part of the consumer spending when using the expenditures approach for calculating the GDP.

Purchase of weapons for the military is part of government spending.

What is the expenditures approach?

Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year

GDP calculated using the expenditure approach = Consumption spending by households on durable and non durable goods + Investment spending by businesses + Government spending + Net export

To learn more about GDP, please check: https://brainly.com/question/15225458

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