Which of the Following Is Included in the Consumption Component

question 21

Multiple Choice

Which of the following is included in the consumption component of GDP?

• A) CPP/QPP payments
• B) purchases of foreign goods and services
• C) purchases of newly constructed homes
• D) goods produced but not sold during the reference period

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Definitions:

Assets

Economic resources owned or controlled by a business or an individual, capable of producing value and used to generate income or meet obligations.

Liabilities

Financial obligations or debts that a company owes to others, which must be paid in the future, including loans, accounts payable, and mortgages.

Shareholders' Equity

The residual interest in the assets of a corporation after subtracting liabilities, representing the ownership interest of shareholders.