GDP can be estimated by summing

A) personal consumption expenditures,net private domestic investment,and federal government spending.
B) personal consumption expenditures,gross private domestic investment,government spending on goods and services,and net exports.
C) all services and goods purchased by households,businesses,and government.
D) household spending,investment,financial transactions,and government transfers.

Personal Consumption Expenditures

Refers to the value of goods and services purchased by households for the purpose of consumption.

Gross Private Domestic Investment

The total amount of money spent on investment in physical assets (such as buildings and machinery) by the private sector.

Government Spending

The total amount of money that the government expends on goods, services, and public projects to provide for citizens or stimulate the economy.