In Computing GDP, New Home Construction Adds to

question 24

Multiple Choice

In computing GDP, new home construction adds to

• A)consumption.
• B)investment.
• C)government spending.
• D)net exports.

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Definitions:

Supremacy Clause

A clause in the United States Constitution establishing that federal law takes precedence over state laws and constitutions when there is a conflict.

Constitution

A fundamental set of principles or established precedents that dictate the governance and operation of a political entity or organization.

Judicial Review

The process by which courts examine the actions of the three branches of government to ensure they comply with the Constitution.

Constitutional

Relating to an established system of fundamental principles according to which a state or other organization is governed.