Consumption in the Expenditures Approach to Calculating GDP Includes

question 120

Multiple Choice

Consumption in the expenditures approach to calculating GDP includes

• A)spending by businesses on plant and equipment
• B)spending by government on office buildings
• C)spending by households on new single-family houses
• D)changes in business inventories
• E)purchases of medical services at the local clinic

---

Definitions:

Economic Success

A measure of financial achievement and stability, often indicated by income, employment, and wealth, reflecting an individual's or nation's prosperity.

Ethnic Groups

Groups of people who share common ancestry, language, religion, customs, or combination of such characteristics.

Ethnic Enclave

is a geographic area with high ethnic concentration, characteristic cultural identity, and economic activity which differentiates it from the wider society.

Social Context

The environmental and cultural setting in which a certain behavior, event, or phenomenon occurs, influencing its interpretation.