Compare and contrast the expenditure versus income approach.

Define 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.