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What are the Four different measures of GDP

Using circular flow model we see that there are 4 equivalent techniques of measuring GDP:

Using the definition: market value of all finished goods (expenditure method)
As sum of all value added from all firms (value added method)
As sum of consumption (government and private), investment and net exports (components method)
As sum of all returns from factor markets: return on capital, wages and so on (income method)

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M9582371

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