The Largest Component of GDP Is

question 124

Multiple Choice

The largest component of GDP is

• A) gross private domestic investment.
• B) personal consumption expenditures.
• C) net exports of goods and services.
• D) government expenditure on goods and services.

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Definitions:

Social Obligations

Duties or responsibilities of individuals to participate and contribute to their community and society at large, often tied to cultural, ethical, or legal expectations.

Colonial Elite

Colonial Elite refers to the small, wealthy, and powerful group of individuals in colonial societies who often held significant economic, political, and social influence over the territories they controlled.

Wealth

An abundance of valuable financial assets or physical possessions which can include money, land, and/or investments.

Power To Rule

The legitimate or sanctioned ability of an entity, organization, or individual to govern or control others within a defined jurisdiction or scope.