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.
<span>Working experience may or may not be a not
a major guideline of the youth employment section of the fair labor standards
act. According to a DOL article, Children from 14 to 18 years old do have time
limits and work range depends on their age and average of their body built.
Still they have rules and regulations to follow.</span>
