Question Details

Consumption expenditure is the payment by households for consumption of



1) In the expenditure approach to GDP, the largest component is
A) government expenditure on goods and services.
B) personal consumption expenditures.
C) gross private domestic investment.
D) net exports.
2) Let C represent consumption expenditure, S saving, I gross private domestic investment, G
government expenditure on goods and services, and X - M net exports of goods and services.
Then GDP equals
A) C + S + G + X - M.
B) C + S + G - X - M.
C) C + I + G + X - M.
D) C + I + G - X - M.
3) Consumption expenditure is the payment by households for consumption of
A) goods but not services.
B) services but not goods.
C) goods and services.
D) services and for saving.
4) The largest component of GDP is
A) gross private domestic investment.
B) personal consumption expenditures.
C) net exports of goods and services.
D) government expenditure on goods and services.
5) Personal consumption expenditures include
A) expenditures by households on goods and services produced only in the United States.
B) expenditures by households on goods and services produced in the United States and the
rest of the world.
C) the purchase of new homes.
D) the purchase of used goods and new goods.





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