Test: GED Social Studies

GDP is a measure of the total economic output of a given country. The most common GDP calculation, known as the expenditure definition, defines GDP (Y) as the sum total of all consumer expenditures (C) plus investment (I) plus government spending (G) plus net exports (X-M). This defintion is often written as the equation: 

1.

Which of the components of GDP accounts for the majority of economic output in a given country?

They are all equal.

Investment

Consumer Expenditure

Government Spending

Net Exports

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