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Econ 1005 Total Expenditures of the countries USA, Canada and China, I know how the economy of these countries were but I don't really know
Econ 1005 Total Expenditures of the countries USA, Canada and China, I know how the economy of these countries were but I don't really know the breakdown of all their expenditures. I learned that both USA and Canada have a higher components of consumer spending on their GDP but China does not, China has a higher components of firm spending and a lower consumer spending which typically means that people in China does not have much to spend and might mean unemployment. In the case of USA and Canada, these countries are very vulnerable by the effect of the decrease in consumer spending since this is the biggest chunk of their GDP, decrease in consumer spending might also mean in slowdown of the economy so it's really like going back in circle like the circular flow diagram
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