Which of the following statements about the consumption component of GDP is not correct?
A. Since 1960, the consumption component of GDP has generally increased as a fraction of GDP.
B. The consumption component of GDP in the U. S. is greater than all three of the other components (government, investment, and net exports) combined.
C. Consumption as a fraction of total GDP in the U. S. is larger compared to all other high income nations in the world.
D. Spending on services is smaller than the amount of consumption spending on durable and nondurable goods.
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