The largest expenditure component of U.S. GDP is:
A. consumption.
B. investment.
C. exports.
D. government purchases.
Answer: A
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Reverse auctions
A) require customers to fly at unpopular times. B) allow firms to identify customers that have very elastic demand curves. C) Both A and B. D) are used to keep high paying customers from spending too little money.
Popular management jargon includes
A) benchmarking. B) empowerment. C) lean manufacturing. D) total quality management. E) all of these choices.
Periodic fluctuations in real GDP are called
a. business cycles b. recessions c. peaks d. expansions e. troughs
Jake can complete an oil change in 45 minutes and he can write a poem in 90 minutes. Ming-la can complete an oil change in 30 minutes and she can write a poem in 90 minutes. Jake's opportunity cost of writing a poem is lower than Ming-la's opportunity cost of writing a poem
a. True b. False Indicate whether the statement is true or false