The Four Components of GDP Are

question 49

Multiple Choice

The four components of GDP are:

• A)consumption, money supply, government purchases and exports
• B)consumption, investment, transfer payments and imports
• C)consumption, investment, government purchases and foreign exchange
• D)consumption, investment, government purchases and net exports

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Definitions:

Time Periods

Specific intervals or spans of time during which certain events or measurements are taken or analyzed.

Indicator Variables

These are binary variables used in statistical models to represent the presence (with a value of 1) or absence (with a value of 0) of a particular condition or characteristic.

Seasonal Variations

Refers to fluctuations in data or activities that occur regularly based on seasonal changes throughout the year.

Trend Component

A component of time series data that represents the consistent, long-term direction of the data over time.