GDP-methods of calculating and issues 0.0 / 5 ? EconomicsGDPASEdexcel Created by: megmbrown99Created on: 02-03-16 19:12 What are the 3 ways of measuring GDP? Output Method, Income Method and Expenditure Method 1 of 9 How do you avoid using the double counting for the output mehtod? Use value added method 2 of 9 What do you add up in the income method? Wages, salaries, interest, profits and rent 3 of 9 What's deducted from the income method? Transfer Payments 4 of 9 What do you deduct from the expenditure method? Indirect Taxes 5 of 9 What do you include in the expenditure method? Expenditure on goods and services, imports and subsidies 6 of 9 What are the 3 difficulties with measuring GDP Population Growth, Informal Activity and Regretabble activiy 7 of 9 How can you sort the issue with population growth? Caluculate GDP per capita 8 of 9 How does the informal economy effect productivity and inflation? It results in lower productivity and lower inflation 9 of 9
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