GDP Can Be Estimated by Summing

question 248

Multiple Choice

GDP can be estimated by summing

• A)personal consumption expenditures,net private domestic investment,and federal government spending.
• B)personal consumption expenditures,gross private domestic investment,government spending on goods and services,and net exports.
• C)all services and goods purchased by households,businesses,and government.
• D)household spending,investment,financial transactions,and government transfers.

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Definitions:

Evoked Set

A group of relevant brands or products that a consumer recalls from memory when making a purchasing decision.

Evaluative Criteria

The standards or benchmarks that consumers use to compare different products or services before making a purchasing decision.

Running Shoe

A type of footwear specifically designed to improve comfort and performance during running.

Institutional Market

A market segment consisting of large organizations such as hospitals, schools, and government agencies that procure goods or services in substantial quantities.