Is the US a consumer economy?

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Question: 

I here a bit more these days about our being a consumer economy. What other types of economies are there?

Thanks a bunch!

Answer: 

Ours is called a consumer economy because consumption is nearly 70% of our GDP. Countries like China, are more investment-driven with investment (often by the public sector) at nearly 50% of GDP. 

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Category: 
Economic Systems
Tags: 
consumer spending
Last updated on May 5, 2020