In using the expenditure approach to GDP,consumption
A)includes consumer durables,semi-durable goods,nondurable goods,and services.
B)includes houses,consumer durables,nondurable goods,and services.
C)includes residential investment,nondurable goods,and services.
D)excludes all purchases by business firms.

Question

Quizplus · Accepted Answer

Consumption includes all purchases of consumer goods and services, including durable, semi-durable, and non-durable goods.

In Using the Expenditure Approach to GDP,consumption