Asked by
candy johnson
on Nov 16, 2024
Verified
New home construction is included in the consumption component of GDP.
New Home Construction
The process of building residential buildings, reflecting economic trends and influencing economic activity.
Consumption Component
The part of an economy's output that is directly related to the spending on goods and services by consumers.
- Acquire knowledge on how GDP is calculated considering government expenditures, investments, consumption, and the balance of exports and imports.
Verified Answer
NA
Learning Objectives
- Acquire knowledge on how GDP is calculated considering government expenditures, investments, consumption, and the balance of exports and imports.
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