The Four Categories of Final Users of GDP Are

question 78

Multiple Choice

The four categories of final users of GDP are:

• A)businesses, firms, governments, and the foreign sector.
• B)households, the Federal Reserve, governments, and the foreign sector.
• C)businesses, corporations, firms, and farms.
• D)households, firms, governments, and the foreign sector.

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Definitions:

Enforce Contracts

The legal process of ensuring that the terms of a contract are upheld by the parties involved.

Private Property

A legal designation for the ownership of property by non-governmental legal entities, giving the owner exclusive rights over the use, disposal, and benefits of the property.

Federal Government

The federal government is the national government of a federated state, which holds the authority to govern the entire country and is responsible for areas such as defense, foreign policy, and interstate commerce.

Higher Education

A level of education beyond high school, including colleges, universities, and other post-secondary institutions.