According to the Expenditure Approach, the Largest Component of GDP

question 74

Multiple Choice

According to the expenditure approach, the largest component of GDP is:

• A) government spending.
• B) proprietor's income.
• C) net interest.
• D) personal consumption expenditures.
• E) compensation of employees.

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Definitions:

Leading Industries

The primary sectors of an economy that drive its growth, characterized by high levels of productivity and innovation.

Conglomerates

A conglomerate is a large corporation composed of diverse companies operating in various industries under one corporate group.

Fast-Food Workers

Employees working in the fast-food industry, often characterized by low wages and limited job security.

Admiration

A feeling of great respect and approval towards someone or something, often inspired by their abilities, qualities, or achievements.