Answer: key macroeconomic measures
Explanation:GDP can be measured in three different ways: the value added approach, the income approach (how much is earned as income on resources used to make stuff), and the expenditures approach (how much is spent on stuff). However, you will likely run into the expenditures approach the most as you progress through this course. A model called the circular flow diagram illustrates how the expenditures approach and the income approach must equal each other, with goods and services flowing in one direction and income flowing in the opposite direction, in a closed loop. government spending, exports, and imports: Y=C+I+G+X-MY=C+I+G+X−MY, equals, C, plus, I, plus, G, plus, X, minus, M.