ECONOMICS
ECONOMIC GROWTH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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America’s ____ is calculated by adding up consumer spending, government spending, national investments and net exports.
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per capita
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gross domestic product
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inflation
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None of the above
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Explanation:
Detailed explanation-1: -Consumer spending comprises 70% of GDP. The retail and service industries are critical components of the U.S. economy.
Detailed explanation-2: -United States Private Consumption accounted for 68.1 % of its Nominal GDP in Sep 2022, compared with a ratio of 68.2 % in the previous quarter.
Detailed explanation-3: -Aggregate demand is the sum of four components: consumption, investment, government spending, and net exports. Consumption can change for a number of reasons, including movements in income, taxes, expectations about future income, and changes in wealth levels.
There is 1 question to complete.