If u. s. households decide to work fewer hours and take more leisure time, which component of gdp is most likely to decrease as a result?
choose one:
a. government spending
b. consumption
c. net exports
d. investment

B. consumption

Explanation:

GDP is the sum total of the wealth produced in a country over a given period of time, usually one year. GDP is calculated using the following formula: GDP = C + I + G + (X-M) where C = Consumption, I = Investments, G = Government Expenditure, (X-M) = Trade Balance.

Consumption (C) refers to the purchase of goods and services demanded by US citizens (the families). Consumption occurs according to household income level. This way, if families decide to work less to have more leisure hours, families' income will be lower. Consequently, consumption will be lower, lowering GDP.

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