Research the latest GDP report for the United States (start here:https://www.bea.gov/data/gdp/gross-domestic-product#gdp ). Complete the following:

1. List the four components of GDP.
2. Describe what is measured in each of those components.
3. Describe the relative size of each of the components (in absolute dollars and as a percentage of GDP) for the U.S. economy. Use the https://www.bea.gov/system/files/2020-08/quick-guide-gdp.pdf to help you navigate the GDP site.
4. Consider the construction industry. What does the latest GDP report indicate about that industry?

Answer rating: 100% (QA)

Components of GDP Consumption C This component represents the total expenditure by households on goods and services It includes spending on durable go... View the full answer