GDP Is the Sum Of

question 49

Multiple Choice

GDP is the sum of:

• A) personal consumption, private investment, government purchases, and imports.
• B) personal consumption, private investment, government purchases, and net exports.
• C) personal consumption, private investment, government purchases, and net imports.
• D) personal consumption, private investment, government purchases, and foreign remittances.

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Definitions:

Wage Rate

The amount of compensation an employee receives in exchange for performing a specific job, typically expressed per hour or year.

Endowment

The value that a property generates for its owner; in economics, it often refers to the initial allocation of goods and resources available to individuals.

Consumption

The consumption of products and services by families or personal users.

Price Change

A fluctuation in the market price of goods, services, or assets, which can be influenced by various factors including supply and demand, market sentiment, and news.