The Components of GDP

What does the 'c' represent in the GDP equation?

• Net exports

• Gross private investment

• Government purchases

• Personal consumption expenditures

What is included in personal consumption expenditures?

• Thrift store fashions

• Second-hand goods

• Antique items

• New goods and services

What does the 'i' represent in the GDP equation?

• Net exports

• Government purchases

• Personal consumption expenditures

• Gross private investment

What is included in gross private investment?

• Second-hand machinery

• Resold houses

• Antique tools

• New homes

What does the 'g' represent in the GDP equation?

• Personal consumption expenditures

• Gross private investment

• Net exports

• Government purchases

What is included in government purchases?

• Bridges and buildings

• Physical capital

• Goods and services produced abroad

• Goods and services produced domestically

What does the 'x' represent in the GDP equation?

• Domestic goods

• Exports

• Foreign services

• Imports

What is included in net exports?

• Bridges and buildings

• Physical capital

• Goods and services produced abroad

• Goods and services produced domestically