Brief Principles of Macroeconomics...
Solutions
Brief Principles of Macroeconomics...
Which is the largest component of GDP?
a. consumption
b. investment
c. government purchases
d. net exports
The major component of GDP.
The GDP is the summation of the monetary value of all the goods and services produced within the political boundary of a country, within a financial year. The expenditure is a main part of the GDP consideration because all the expenditures turn out to be someone’s income, which can be calculated in the GDP.
Option (a):
The expenditures made for the purpose of consumption of goods and services by the individual or the government is known as the consumption expenditure. It is a major component of expenditure which accounts for 70 percent of the total expenditure of the economy. Thus, it is clear that the correct option is option ‘a’.
Option (b):
The expenditure made for the purpose of investment by the individuals or the government is an important component of the GDP of ...
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