Author Question: Personal consumption expenditures: a. represent close to two-thirds of GDP. b. are equal to ... (Read 53 times)

londonang · **on:** Jun 30, 2018

Personal consumption expenditures:
a. represent close to two-thirds of GDP.
b. are equal to personal income minus individual taxes.
c. include durable good purchases but not nondurable good purchases.
d. do not include any intangible consumption items.
e. include all goods and services bought by the government.

Question 2

Personal consumption expenditures include:
a. all commodities that business firms buy.
b. the purchase prices paid for stocks and bonds by individual households.
c. the construction of residential housing.
d. all goods and services bought by households.
e. the corrected value of housewives' services.