Expenditures by individuals for durable goods, nondurable goods, and services are known as
A) personal consumption expenditures.
B) total spending.
C) personal calculated expenditures.
D) personal computed expenditures.

Question

Quizplus · Accepted Answer

Personal consumption expenditures are the expenditures made by individuals for durable goods, nondurable goods, and services. Total spending refers to the total amount of spending in an economy, not just by individuals. Personal calculated expenditures and personal computed expenditures are not common terms used in economics.

Expenditures by Individuals for Durable Goods, Nondurable Goods, and Services