Question

What accounts for almost one third of the United States' GNP, while in most European countries, it accounts for about 50 percent of the nation's GNP?

Answer 1

What accounts for almost one third of the United States' GNP, while in most European countries, it accounts for about 50 percent of the nation's GNP?

a) Consumption

b)Government Spending c)Investments

d) Imports

Answer:

Consumption or Personal Consumption Expenditure

Step-by-step explanation:

Personal consumption expenditure is a term that describes the level or measurements of national consumer spending on goods and services of a country. These consumer goods are durable goods such as cars, washing machines etc, while non durable consumer goods are excluded but referred to as household investment.

Personal consumer expenditure is one of the most essential part or indicator in measuring the GNP and GDP of a country, and according to recent statistics, it accounted for one-third of USA GNP, while it accounted for 50% of most European countries such as Germany, UK, France etc.

Answer 2

• The United States is super power and has multiple resources to maintain itself and the over all economic system. As, there are about millions of multinational and national companies which are working for the better Gross National Product(GNP). As, there is agriculture, car manufacturer, and the military industry for improving and adding the value to the over all GNP of the United States.
• The Oil and gas sector is the one major factor for the development of the United State's GNP(Gross National Product). As, the exports of the region is well known to be very high and generates more revenue for the over all system as well.