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:

Affirming Contract

The act of formally agreeing to the terms of a contract, thereby making it legally binding.

Hadley v. Baxendale

A foundational English contract law case that established the rule regarding the recoverability of damages for breach of contract based on foreseeability.

Foreseeable Damages

Foreseeable damages are those losses that a party could reasonably anticipate at the time of contract formation, resulting from a breach of the contract.

Penalty

refers to a punishment imposed for breaking a law, rule, or contract.