Question Details

Of the following, the largest component of GDP is




1) In the equation, GDP = C + I + G + X - M, G refers to
A) federal government expenditures plus all transfer payments.
B) local, state, and federal government spending for all purposes.
C) the taxes and expenditures of all government units.
D) local, state, and federal government expenditure on goods and services, but does not
include transfer payments.
2) The components of the expenditure approach to measuring GDP include all of the following
EXCEPT
A) net exports.
B) government expenditure on goods and services.
C) investment.
D) the implicit payments for unpaid household work.
3) All of the following are components of the expenditure approach to measuring GDP EXCEPT
A) Shaniqʹs purchase of a meal at the Olive Garden in Atlanta.
B) a Senator from Iowa being paid the monthly salary.
C) the army buying new M1 Abram tanks.
D) Ford Motor Company buying new Dell computers for use in its marketing department in
Dearborn, Michigan.
4) The largest component of GDP in the expenditure approach is
A) personal consumption expenditures.
B) gross private domestic investment.
C) government expenditure on goods and services.
D) net exports.
5) Of the following, the largest component of GDP is
A) personal consumption expenditure.
B) gross private domestic investment.
C) government expenditure on goods and services.
D) net exports of goods and services


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