The largest component of GDP in the expenditures approach is

Question

Quizplus · Accepted Answer

Personal consumption expenditures, or consumer spending, make up the largest component of GDP in the expenditures approach. This includes spending on goods and services by households, such as food, housing, healthcare, and transportation. Government expenditure on goods and services, gross private domestic investment, and net exports are also important components of GDP, but they are all smaller than consumer spending.

The Largest Component of GDP in the Expenditures Approach Is