In the National Income Accounts, the Purchase of Durables, Nondurables

question 31

Multiple Choice

In the national income accounts, the purchase of durables, nondurables, and services by households are classified as:

• A) consumption.
• B) investment.
• C) government purchases.
• D) net exports.

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Definitions:

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Federal Statute

A law enacted by the federal government that applies across the entire country.

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Laws and regulations designed to ensure the rights of consumers are protected against unfair practices in the marketplace.

Holder in Due Course

A term in commercial law referring to a party who has received a negotiable instrument in a legitimate manner for value, without notice of any defects in the instrument or claims against it.