The largest income component of GDP is _____, whereas the largest expenditure component of GDP is _______.

Question

Quizplus · Accepted Answer

Income from employment is the largest source of income in most economies, reflecting wages and salaries paid to workers. Consumption, which includes spending on goods and services by households, is typically the largest component of GDP expenditure, as it represents the bulk of economic activity in consumer-driven economies.

The Largest Income Component of GDP Is _____, Whereas the Largest