These two sets of prices cover the whole range of final goods and services included in GDP: household consumption expenditures, government consumption expenditures, and gross capital formation ...

Although there are several ways of calculating GDP, the expenditures approach is the most common. It focuses on final goods and services purchased by four groups: consumers, businesses ...

Understand how gross domestic product (GDP) is calculated and whether or not transfer payments, such as Social Security, are included in GDP.