Components of gdp 3 government consumption and gross

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Unformatted text preview: houses. Components of GDP 3) Government Consumption and Gross Investment, or “Government Purchases” Government purchases Spending by federal, state, and local governments on goods and services. 4) Net Exports of Goods and Services, or “Net Exports” Net exports: EX- IM Some Actual Values FIGURE 7-2 Components of GDP in 2008 Consumption accounts for 70 percent of GDP, far more than any of the other components. In recent years, net exports typically have been negative, which reduces GDP....
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This document was uploaded on 03/29/2014.

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