Of the following, the largest component of GDP is
A) personal consumption expenditure.
B) gross private domestic investment.
C) government expenditure on goods and services.
D) net exports of goods and services.
A
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Empirical observations validate that the Gini co-efficient for the U.S. economy was between 0.35 and 0.37 until the 1990s, after which it has increased and reached 0.469 in 2009 . Which of the following can be inferred from this?
a. The distribution of national income in the U.S. has become slightly more equal since the 1990s. b. The government spending on poverty alleviation has increased since 1990. c. More jobs have been created in the U.S. since 1990. d. The distribution of national income in the U.S. has become slightly more unequal since the 1990s. e. The government has replaced the existing regressive tax structure with a progressive tax structure.
The production possibility curve:
A. is based on the law of diminishing returns. B. is convex to the origin. C. is the boundary between attainable and unattainable outputs. D. reflects the mixed economy found with most economic systems.