Define GDP and discuss how it is measured

Answer the following questions: in 2-3 pagesDefine GDP and discuss how it is measured. Compare and contrast the expenditure versus income approach.What are some of the drawbacks of using GDP to measure economic well-being?Explain the effect of a negative trade deficit (X-M) on GDP.Adhere to APA formatting and reference guidelines when writing your response. Additionally, your response should be free of grammatical errors, use complete sentences, and give specific details to support statement.

 

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