When the total Australian production of goods and services is divided into consumption goods and services,capital goods,government goods and services,and export goods and services,the largest component is

Question

Quizplus · Accepted Answer

According to the national accounting identity, Gross Domestic Product (GDP) is equal to the sum of consumption goods and services, capital goods, government goods and services, and net exports (exports minus imports). In Australia, the largest component of GDP is consumption goods and services, followed by government goods and services, then capital goods, and finally, net exports (which are often negative due to Australia's reliance on imports for consumption and investment). Therefore, choice C is the best answer.

When the Total Australian Production of Goods and Services Is