The system of measurement of national income as the sum of all final demands is called?

The system of measurement of national income as the sum of all final demands is called the expenditure approach. The expenditure approach is a method used to calculate a country's gross domestic product (GDP). It measures the total amount spent on all goods and services produced within a country in a given period. This includes consumption spending by households, investment spending by businesses, government spending, and net exports (exports minus imports). The expenditure approach is based on the idea that the total amount of money spent on goods and services is equal to the total value of those goods and services. By adding up all the final demands for goods and services, the expenditure approach provides an estimate of a country's overall economic activity and standard of living.