how does the income approach to measuring GDP differ from th

how does the income approach to measuring GDP differ from the expenditure approach?

Solution

GDP can be measured of an economy through three ways.

Production, Incomeand expenditure approaches.

through income approach, GDP could be measured as total of all the receipts for all of the factors of production and others who receive money because of the process.

Whereas, The expenditure approach totals the amount spent on total consumption, investments, government purchases, net exports.