Table 2.1 GDP and Its Components,2012

question 69

Multiple Choice

Table 2.1 GDP and its components,2012
-Assuming that the GDP breakdown shown in Table 2.1 is typical of a given year in the U.S.we can say that ________.

• A)we spend twice as much on goods consumption as we do on services
• B)consumption of durable goods is twice that of nondurables
• C)government purchases is the largest main component of GDP
• D)all of the above
• E)none of the above

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Definitions:

Fine Tuning Concepts

The process of making small adjustments to a policy, system, or idea to optimize its performance or effectiveness.

Future Consumers

Individuals or entities that are potential customers of a product or service in the future, highlighting the importance of market forecasting and trend analysis for businesses.

Black Box

A system or device whose internal workings are not revealed or are unknown but can be understood based on its input and output behavior.

Consumer Behavior

The study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and desires.