Table 2.1 GDP and its components,2012
-Assuming that the GDP breakdown shown in Table 2.1 is typical of a given year in the U.S.we can say that ________.
A)we spend twice as much on goods consumption as we do on services
B)consumption of durable goods is twice that of nondurables
C)government purchases is the largest main component of GDP
D)all of the above
E)none of the above

Question

Table 2.1 GDP and its components,2012 
-Assuming that the GDP breakdown shown in Table 2.1 is typical of a given year in the U.S.we can say that ________.
A)we spend twice as much on goods consumption as we do on services 
B)consumption of durable goods is twice that of nondurables 
C)government purchases is the largest main component of GDP 
D)all of the above 
E)none of the above

Quizplus · Accepted Answer

In the U.S., services consumption typically makes up a larger portion of GDP than goods consumption, nondurable goods consumption is usually higher than durable goods, and consumer spending is generally the largest component of GDP, not government purchases.

Table 2.1 GDP and Its Components,2012