Personal consumption accounted for $12.3 billion in 2015 in the United States.
Answer the following statement true (T) or false (F)
False
Personal consumption accounted for $12.3 trillion in 2015.
You might also like to view...
Stagflation can be defined as a situation characterized by
a. rising prices and rising output. b. rising prices and falling output. c. falling prices and falling output. d. falling prices and rising output.
Which of the following items is counted as part of government purchases?
a. The federal government pays the salary of a Navy officer. b. The state of Nevada pays a private firm to repair a Nevada state highway. c. The city of Las Vegas, Nevada pays a private firm to collect garbage in that city. d. All of the above are correct.
The age-earnings profile for most people indicates
A) earnings rise continually until a person retires. B) earnings initially decline and then rise continually until retirement. C) that when you adjust for inflation, earnings are constant throughout the entire workplace experience. D) earnings rise until the age of about 50 and then begin to fall until retirement.
Ford assembles some cars in Mexico because the lower wages the company pays to Mexican workers and the lower prices it pays for auto parts in Mexico reduces Ford's costs. This is an example of Ford reacting to which of the three key economic ideas?
A) People are rational. B) People respond to economic incentives. C) Optimal decisions are made at the margin. D) Firms attempt to maximize revenues.