Over the past few decades, the bulk of gross private domestic investment has gone toward

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Gross private domestic investment includes all investments made by private individuals and businesses within a country's borders. The bulk of this investment typically goes toward replacing capital that has depreciated, such as machinery, equipment, and structures. This is because businesses need to maintain and upgrade their capital in order to remain competitive and productive. While investment in new homes and residential structures is also significant, it generally makes up a smaller portion of overall investment. Research and development is not typically included in gross private domestic investment, as it is a separate category of investment that is often funded by governments or by private venture capital firms.

Over the Past Few Decades, the Bulk of Gross Private