Answer:
The statement is false. The largest component of GDP is private consumption, or simply: consumption.
Explanation:
Consumption includes all purchases of goods and services made by individuals and households except for the purchase of new houses (these are considered investments).
In the U.S., consumption accounts for around 70% of GDP. This is why some economists say that the U.S. is a consumer-based economy.
Answer:
True
Explanation:
This is true that global staffing has created political issues such as questioning U.S. federal legislation that restricts the number of high-skilled workers admitted from other countries.
Hi there!
<u>Information:</u>
<u>First, allow us to observe what an "economic factor is".</u>
- An economic factor is data taken out of market and economy.
- Economic factor may include certain costs. And these costs well be in our answer.
<u>Problem-Solving / Answer</u>
<u>Now, we figure out what economic factors we can find.</u>
<u>Tax rates</u> - tax rates can include an Economic factor.
<u>Laws</u> - Laws are a known economic factor.
<u>Unemployment</u> - Big one, at this time due to COVID-19, unemployment rates are flying off the charts. This is an example of an economic factor.
Important Keywords;
- Data ; <u>Data can be information taken from a place, for example, you have taken data from a chart.</u>
<u>Learn more:</u>
<u>Push factors: brainly.com/question/13553564</u>
<u>Economic growth: brainly.com/question/13023127</u>
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<span>Private good is a product and/or service produced by a private business and purchased to increase the utility and/or productivity of the buyer. The majority of the goods and services consumed in a market economy are private goods, and their prices are determined by the market forces of supply and demand. Private goods are both excludable and rivalrous, where excludability means that producers can prevent some people from consuming the good or service based on their ability or willingness to pay and rivalrous indicates that one person's use of a product reduces the amount available for use by another. In practice, private goods exist along a continuum of excludability and rivalry and can even show only one of these traits.</span>
