In Comparing the Magnitudes of the Components of GDP According

question 247

Multiple Choice

In comparing the magnitudes of the components of GDP according to the expenditure approach, we see that in the United States

• A) government expenditure on goods and services is the largest category.
• B) investment is the largest category.
• C) investment is much larger than government expenditure on goods and services.
• D) investment is about the same size as government expenditure on goods and services.
• E) investment, government expenditure on goods and services, and consumption expenditure are all about the same size.

---

Definitions:

Heterogeneous Society

A community made up of individuals from diverse backgrounds, cultures, ethnicities, or beliefs.

Competing Interests

Situations where multiple parties have conflicting objectives, goals, or desires.

Sociological Theory

A framework for understanding society that analyzes the relationships between individuals, groups, institutions, and societies.

Politics

Politics involves the activities, actions, and policies through which people make, preserve, and amend the general rules under which they live.