One Reason Why Consumption Accounts for More of GDP in the U.S.than

question 99

Multiple Choice

One reason why consumption accounts for more of GDP in the U.S.than it does in Canada is

• A)Americans are more materialistic.
• B)spending on health care is often counted as consumption in the U.S.and not in Canada.
• C)Americans are less concerned about the future than Canadians.
• D)there is less for consumers to buy in Canada.
• E)Canadian save much more than Americans.

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Definitions:

Francis Townsend

An American physician who was known for his advocacy for the elderly and his proposal of a pension plan to aid the elderly during the Great Depression, leading to the creation of Social Security.

Economic Recovery

The process by which a nation's economy begins to thrive again following a period of decline or recession, marked by increases in employment, consumer spending, and overall economic growth.

Industrial Workers

Employees involved in the manufacturing sector, often in factories, who contribute to the production of goods.