The Single Largest Expenditure Component in GDP Is

question 71

Multiple Choice

The single largest expenditure component in GDP is:

• A) consumption expenditures.
• B) private investment expenditures.
• C) net exports.
• D) government purchases.

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Definitions:

Privity of Contract

A principle in contract law stating that only parties involved in the contract have the right to sue to enforce their rights or claim damages.

Commission

A fee paid for services, typically a percentage of the transaction value, to an agent or salesperson for facilitating or completing a sale.

Agreement of Purchase and Sale

A legally binding contract between a buyer and seller detailing the terms and conditions of the sale of property.

Key Account Management

A strategic business approach focused on building and maintaining long-term relationships with a company’s most valuable customers.