Which of the following would be classified as a personal consumption expenditure?
a. All of the following.
b. Your purchase of a newly constructed house
c. Your purchase of a preowned house.
d. Your purchase of one share of Microsoft stock.
e. Your purchase of this economics course.
Question 2
Gross private domestic investment includes business:
a. purchases of capital goods, all new construction, and purchases of consumer durable goods.
b. purchases of capital goods, all new construction, and inventory investment.
c. purchases of capital goods, all new commercial construction, and inventory investment.
d. purchases of capital goods, all new residential construction, and inventory investment.
e. purchases of all types of durable goods, all new construction, and inventory investment.
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