QUESTION
Hi , i need a comment and question for the post bellow In view of the weak economy of the last several years, explain which of the four (4) components of GDP had, or is having, the greatest positive impact in our economy. Use the following historical tables to support your response. Go to the Bureau of Economic Analysis atwww.bea.govNavigate on the home page to where it states âNational,â then select âGross Domestic Productâ. Next, select âGDP and the National Income and Product Account (NIPA) Historical Tablesâ. The direct Web address ishttp://bea.gov/national/index.htm#gdp I would have to say personal consumption expenditures has the greatest positive impact on our economy. According to US Economy, about 70% of what the US produces is for personal use. During 2014, $11.929 trillion of the total $17.418 trillion went toward household purchases.Goods contributed $3.968 trillion in 2014, almost 1/4 of total GDP and Services produced $7.96 trillion in 2014 and was nearly half (45.7%) of GDP. Goods are broken into durable and non durable goods which fall under the retail industry. Thus the retail industry is a large component of the economy.
ANSWER:
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