Suppose That Consumption Spending Is $4,200 Billion,spending on Durable Goods

question 9

Multiple Choice

Suppose that consumption spending is $4,200 billion,spending on durable goods is $1,200 billion,and spending on services is $2,000 billion.What does spending on nondurable goods equal?

• A)$7,200 billion
• B)$1,000 billion
• C)$2,200 billion
• D)$3,200 billion
• E)There is not enough information to answer this question.

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Definitions:

Unknown

In research and statistics, it refers to a quantity or a property which needs to be discovered or measured.

Confidence Level

The probability that the value of a parameter falls within a specified range of values, often associated with a confidence interval.

Confidence Interval

A range of values derived from sample data that is likely to contain the true population parameter with a specified level of confidence.

Population Mean

The average value of all elements in a population.