BuyFindarrow_forward

Brief Principles of Macroeconomics...

8th Edition
N. Gregory Mankiw
ISBN: 9781337091985

Solutions

Chapter
Section
BuyFindarrow_forward

Brief Principles of Macroeconomics...

8th Edition
N. Gregory Mankiw
ISBN: 9781337091985
Textbook Problem

List the four components of expenditure. Which is the largest?

To determine

The different components of expenditure.

Explanation

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. There are mainly four components of expenditure and they are as follows:

(1) Consumption: 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...

Still sussing out bartleby?

Check out a sample textbook solution.

See a sample solution

The Solution to Your Study Problems

Bartleby provides explanations to thousands of textbook problems written by our experts, many with advanced degrees!

Get Started

Additional Business Solutions

Find more solutions based on key concepts

Show solutions add

Give three examples of important trade-offs that you face in your life.

Principles of Microeconomics (MindTap Course List)

Define commodity IT asset.

Accounting Information Systems

Describe the connection between planning, feedback, and controlling.

Managerial Accounting: The Cornerstone of Business Decision-Making

EXCESS CAPACITY Edney Manufacturing Company has 2 billion in sales and 0.6 billion in fixed assets. Currently, ...

Fundamentals of Financial Management, Concise Edition (with Thomson ONE - Business School Edition, 1 term (6 months) Printed Access Card) (MindTap Course List)