The Largest Component of Spending in GDP Is

question 246

Multiple Choice

The largest component of spending in GDP is

• A)consumption spending.
• B)investment spending.
• C)government spending.
• D)net export spending.

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Definitions:

Measurable

Capable of being quantified or precisely assessed.

Social Responsibility Pyramid

A framework suggesting that businesses are responsible to their stakeholders in a hierarchical manner, starting from economic, legal, ethical, to philanthropic responsibilities.

Milton Friedman

was an American economist known for his strong belief in free-market capitalism and for being a leading proponent of monetarism.

Economic Responsibility

Refers to the duty of organizations to make decisions that benefit the financial health of both the company and the wider economy.