What are the major components of the USA GDP? Explain the contribution of each component to the GDP with data.
Thank you for the opportunity to help you with your question!
USA GDP has four major components which include :
1)Expenditure- Consumers will spend money on goods and services and this in turn will earn revenue to the US government through taxation.
2) Investment - The governments invest its money on coming up with new projects that will eventually earn profit to the country.
3)Export of goods and services - Export of goods and services to other countries earns revenue to the US government
4) Government expenditure - Government spending on aiding the poor and spending on projects can bring debts hence frustrating the economy.
Content will be erased after question is completed.
Enter the email address associated with your account, and we will email you a link to reset your password.
Forgot your password?