Which of the Following Is Included in the Consumption Component

question 69

Multiple Choice

Which of the following is included in the consumption component of GDP?

• A)household purchases of appliances.
• B)household purchases of medical care.
• C)household purchases of food.
• D)All of the above are included in the consumption component of GDP.

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Definitions:

Nonfarming Jobs

Employment opportunities not related to agriculture, including industries such as manufacturing, services, and technology.

American Majority

Typically refers to the larger or predominant demographic or political group within the United States, which can change contextually over time.

Railroad Companies

Businesses involved in the operation of trains and railroads for the transportation of goods and passengers.

Pools

Agreements between companies to maintain prices at a certain level by controlling supply, a form of collusion often illegal in the U.S.