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:

APR Discount Rate

The annual percentage rate that represents the actual yearly cost of funds over the term of a loan, including any fees or additional costs associated with the transaction.

Monthly Payments

Regular payments made over a specified period of time towards the settlement of a debt obligation, typically calculated on an amortization schedule.

Compounding Frequency

Compounding frequency refers to the number of times per year that earned interest is added to the principal balance of an investment, affecting the total interest earned over time.

APR Interest

Annual Percentage Rate; a measure that reflects the total interest to be paid on a loan, mortgage, credit card, or other financial product, factored as an annual rate.