1. Which component of consumption spending is the greatest in a typical economy?

Question

1. Which component of consumption spending is the greatest in a typical economy?

a. nondurable goods

b. services

c.durable goods

d. new housing

2. In 2012, which component of GDP had a negative value?

a. investment

b. consumption

c. net exports

d. government spending

3. What is the largest component of spending in the U.S.?

a. net investment spending

b. government spending

c. investment spending

d. consumption spending

4. Increases in real GDP would overstate the increase in the well-being of a country over time if, over that time period, the

a. crime rate decreased

b. average hours worked per week increased

c. amount of pollution decreased

d. price level increased

Explanation / Answer

1.

B . services is the answer

In US , Services sector contributes more than 70% in the Entire Gross domestic production or GDP.

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