The largest component of GDP is
personal consumption expenditures
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In the AD/AS model, the aggregate demand for goods and services is composed of the purchases made by
a. households and foreigners (net exports). b. businesses, bondholders, and foreigners (net exports). c. businesses and governments. d. consumers, investors, governments, and foreigners (net exports).
A depreciation of a nation's currency is
A) a situation in which exchange rates are allowed to fluctuate in the open market in response to changes in supply and demand. B) the increase in the exchange value of one nation's currency in terms of an other nation. C) a nation in which households, firms, and governments buy and sell national currencies. D) the decrease in the exchange value of one nation's currency in terms of another nation.