1. After reading a report that says that around 70% of Canadian GDP is consumption, your friend states, "spending 70% of GDP on consumption is a lot. All people care about is buying stuff, consuming stuff, and accumulating stuff. We would be much better off if we spent our money on services or experiences." Identify your friend's misunderstanding of GDP.

this is my homework question for macroeconomics 1022. the prof did not mention more info