Identify the largest and smallest components of GDP
Consumption is the largest component of GDP, net exports are the smallest.
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An increase in the demand for dollars on the foreign exchange market, all else equal, will result in:
A) appreciation of the U.S. dollar and depreciation of the foreign currency. B) appreciation of the U.S. dollar and appreciation of the foreign currency. C) depreciation of the U.S. dollar and depreciation of the foreign currency. D) depreciation of the U.S. dollar and appreciation of the foreign currency.
Suppose Bank-in-the-Box is a monopolist in its market area. If the market wage rate of bank tellers rises, the bank will
a. maintain price and suffer losses b. raise price and earn greater profit c. raise price but earn less profit d. lower price to boost sales e. shut down if AVC is less than price