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27 September, 18:14

In a closed economy, the components of GDP are: Group of answer choices consumption, investment, government purchases, and exports. consumption, investment, and government purchases. consumption and investment. consumption, investment, government purchases, and net exports.

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  1. 27 September, 20:24
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    consumption, investment, and government purchases

    Answer: Option 2.

    Explanation:

    GDP is the gross domestic product which tells the growth rate of the economy at a particular period of time may be in a particular year. There are certain components which affect the gross domestic product of a country.

    In case the economy is closed, that is there is no trade of that particular country with the other countries of the world, then the growth rate of the country is affected by the components like the investment made, the purchases done in the government or the consumption rate.
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