Which component of consumption spending is the greatest in the Canadian economy?

Question

Quizplus · Accepted Answer

Household consumption is the largest component of consumption spending in the Canadian economy, accounting for approximately 60% of GDP. This includes spending on goods and services by households, such as food, housing, transportation, and entertainment. Government consumption and non-profit consumption account for smaller portions of GDP, while wages and salaries and gross fixed capital formation are not considered components of consumption spending.

Which Component of Consumption Spending Is the Greatest in the Canadian