All of the following groups typically contribute to the total GDP:
1. Consumers: when people buy goods and services, they increase the GDP through their spending.
2. Private Investment: Businesses invest in equipment, structures, and technology to produce goods and services, which grows the economy.
3. Government: government spending can also contribute to GDP by investing in infrastructure, defense, and public services.
4. Net Exports: GDP can be affected by the trade balance between a country's exports and imports. When the value of exports exceeds the value of imports, it leads to a net increase in GDP.
Which of these groups contribute to total GDP?
2 answers
DUMMY