When calculating GDP using the income approach, all expenditures in an economy equal the total income from producing goods and services.

Description topics Expenditure approach to GDP The way GDP is formed by underlying components in the so-called expenditure approach. In this approach the components are consumption by households, ...

In other words, price and volume comparisons of GDP can be made from the production approach and from the expenditure approach, but not from the income approach. ICP comparisons are made from the ...

Description topics Expenditure approach to GDP The way GDP is formed by underlying components in the so-called expenditure approach. In this approach the components are consumption by households, ...