As the market value of all services and goods produced in a country, GDP shows the standard of living in a given county. There are four main components are used to measure GDP. These components include investment, consumption, government purchases, and net exports. Markedly, the largest portion of GDP above or below 70% is the consumption spending by individuals. Ideally, this consumption includes services and goods that people purchase on a daily basis such as clothes, food, rent, and entertainment.
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A particular country is said to have a well balanced trade for a certain period if the value of goods exported is higher than that of goods exported. In this regard, my income will somewhat be affected by net exports whether on the positive or o the negative side. In the past two months, my income has quite fluctuated from one point to another, up and down. Ideally, I would presume that forces in demand and supply for the U.S. Dollar greatly affect my spending and income as well.