Compared to the size of GDP in 2014, the net national debt was approximately

Personal consumption expenditures

a. represent approximately two-thirds of GDP b. are equal to personal income minus individual taxes c. include durable good purchases but not nondurable good purchases d. do not include any intangible consumption items e. include all goods and services bought by the government

Compensation of employees

a. is included in the expenditure approach to GDP accounting b. is part of consumption expenditures c. is the largest component of national income d. excludes contributions to employees' Social Security e. includes rental income