GDP and the Players Three
In This Chapter
• Major sectors of the U.S. economy
• The role of consumers, business, and government
• Drivers of economic growth
You may know the answer to the question, “How do you eat an elephant?”
“One bite at a time.”
That’s the approach to take when you are trying to understand the U.S. economy, which is the largest in the world. In this chapter, we start by carving this elephant into some fairly large parts, or sectors, as economists call them.
As we learn about these sectors, keep in mind that each one is made up of human beings. Actual people, in households, businesses, and government, decide how much of which goods and services to produce, what to purchase, and how much to pay for them. ...