ECONOMICS
GDP
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
GPDI (I)
|
|
|
G
|
|
|
C
|
|
|
NX
|
Detailed explanation-1: -“C” (consumption) is normally the largest GDP component in the economy, consisting of private expenditures (household final consumption expenditure) in the economy. Personal expenditures fall under one of the following categories: durable goods, non-durable goods, and services.
Detailed explanation-2: -The correct option is d): consumption Therefore, maximum expenditures are recorded in the GDP from this component, and so whenever this component gets affected, GDP also changes a lot.
Detailed explanation-3: -Personal consumption expenditures are the largest component of GDP.
Detailed explanation-4: -1. Consumption (C) Consumption represents the sum of goods and services purchased by citizens-such as retail items or rent-and it grows as more is consumed. It’s the largest component of GDP.
Detailed explanation-5: -C (consumption) is normally the largest GDP component in the economy, consisting of private expenditures in the economy (household final consumption expenditure). These personal expenditures fall under one of the following categories: durable goods, nondurable goods, and services.