The Department of Labor Monitors Consumer Expenditures Through Its Annual

question 214

Multiple Choice

The Department of Labor monitors consumer expenditures through its annual Consumer Expenditure Survey. In the most recent report, consumers spent the largest proportion of their income on which of these?

• A) education
• B) housing
• C) vacations
• D) entertainment
• E) investments

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Definitions:

Short-Term Liabilities

Financial obligations of a business that are due to be paid within one year.

Spontaneously

Occurring without external cause, acting or done impulsively and without premeditation.

Firm's Operations

The day-to-day activities involved in running a business, including production, marketing, and sales functions.

Pledging Accounts Receivable

Using accounts receivable as collateral to secure a loan.