The largest component of GDP based on the expenditures approach is government spending (at all levels: federal, state, and local).

Name: The largest component of GDP based on the expenditures approach is government spending (at all levels: federal, state, and local).
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The largest component of GDP based on the expenditures approach is actually personal consumption expenditures. While government spending does make up a significant portion of GDP, it is not the largest component.

The Largest Component of GDP Based on the Expenditures Approach