Household Spending on Education Is Counted in Which Component or Subcomponent

question 59

Multiple Choice

Household spending on education is counted in which component or subcomponent of GDP?

• A)consumption of durable goods
• B)consumption of nondurable goods
• C)consumption of services
• D)investment

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Definitions:

Agency Contract

An agreement where one party (the agent) agrees to act on behalf of another (the principal) in business transactions.

Durable Power

A form of power of attorney that remains in effect even if the grantor becomes incapacitated or unable to make decisions.

Arbitration Agreements

Contracts in which parties agree to settle disputes outside of court, through an arbitration process.

Residential Care Facility

A housing option for individuals who need assistance with daily living activities but do not require the full-time health care services provided by a nursing home.