Week 2.docx - Running head ECONOMY 1 Economy Amanda Cervantes Brookline College Running head ECONOMY 2 One method to gauge GDP is to combine spending on

Week 2.docx - Running head ECONOMY 1 Economy Amanda...

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Running head: ECONOMY 1 Economy Amanda Cervantes Brookline College August 31, 2019
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Running head: ECONOMY 2 One method to gauge GDP is to combine spending on all final goods and services manufactured in the economy during the year. The easiest way to understand the spending approach is to sort aggregate expenditure into its components: consumption, investment, government purchases, and net exports. Consumption, or more specifically, personal consumption expenditures, consists of purchases of final goods and services by households during the year. Consumption is the largest spending category, averaging 70 percent of U.S. GDP during this past decade (McEachern, 2012). According to the dailyprogess.com, the U.S. market reduced in the spring, and most forecasters assume the economy to deteriorate more in the upcoming months. However, consumer spending is keeping the economy steady. The amount of spending by family’s credits
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