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Which activity is an important component of the Gross Domestic Product (GDP)?
Wiki User
∙ 9y ago
It matters by the approach you take.
In the expenditure approach (C+I+G+NX)
C or consumption is the largest part
In the income approach, it is income given to labor
In the value added approach, it is the difference between input price and output.
note:all final GDP calculations arrive at the same value.
Wiki User
∙ 12y ago
Wiki User
∙ 9y agogovernment spending
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Economic activity is commonly measured as gross domestic product.
What does GDP stands for?
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What is The single most important measure of the economy's overall economic performance?
Gross Domestic Product (GDP)
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Iraq's gross domestic product is 84 billion.
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Gross Domestic Product... (:
Which act is an important component of the gross domestic product?
Gross Domestic Product or GDP is a term to describe the economic situation in a country, for the most part. As such one significant component is wealth that an important industry creates by selling its products overseas and making a profit doing so. Wages within the home country benefit the citizens and the economy overall.
How is economic activity most commonly measured?
Economic activity is commonly measured as gross domestic product.
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Gross domestic product or GDP.
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The acronym for Gross Domestic Product is GDP.
What does GDP stands for?
It stands for Gross Domestic Product
What is the component of a product?
The final, or third, level of the product is the augmented component. The augmented component includes additional services and benefits that surround the first two levels of the product.
What is The single most important measure of the economy's overall economic performance?
Gross Domestic Product (GDP)
What is the augmented component of a product?
The final, or third, level of the product is the augmented component. The augmented component includes additional services and benefits that surround the first two levels of the product.
What is Iraq's gross domestic product?
Iraq's gross domestic product is 84 billion.
