According to the expenditure approach to measuring GDP, in the United States , the largest component of GDP is
A) net exports of goods and services.
B) consumption expenditure.
C) government expenditure on goods and services.
D) investment.
E) wages.
B
You might also like to view...
As a result of a major overhaul of the U.S. welfare system in 1996:
A. Benefits were expanded for immigrants B. Immigrants are denied benefits for their first five years in the U.S. C. Immigrants are denied benefits for their first three years in the U.S. D. More immigrants qualified for welfare benefits
The merger of two daily New York City newspapers would be an example of a
A) conglomerate merger. B) diagonal merger. C) horizontal merger. D) vertical merger.
Suppose the supply of bicycles is price elastic. This means that
A) consumers will respond significantly to an increase in the quantity of bicycles supplied. B) suppliers will respond significantly to changes in the price of bicycles. C) suppliers face many substitutes for bicycles. D) suppliers will increase the quantity of bicycles supplied, but not immediately.
Although specialization of labor increases efficiency of production, it can lead to another major problem:
a. the need to exchange goods among producers. b. the need to remain fully employed. c. the depletion of natural resources. d. assuring that exchange leads to mutual gains. e. All of the above are correct.