Economics Asked by user28763 on August 20, 2021
We know that $GDP = C + I + G + NX$, where $C$ is household consumption and $I$ is private investment. I don’t know whether insurance spending (e.g life insurance) belongs to $C$ or $I$.
I’ve googled and read some stuff but still haven’t found the answer.
Any response is highly appreciated. Thanks in advance!
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