The Relative Importance of Housing in the Breakdown of Consumer

question 358

Multiple Choice

The relative importance of housing in the breakdown of consumer spending is

• A) 41 percent.
• B) 15 percent.
• C) 6 percent.
• D) 4 percent.

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Definitions:

Trade Surplus

A situation where a country's exports exceed its imports, indicating a positive balance of trade.

GDP

Gross Domestic Product, a measure of the total economic output of a country, representing the total value of all goods and services produced over a specific time period.

European Monetary Union

An agreement among European Union member countries to adopt a single currency, the euro, and a single monetary policy governed by the European Central Bank.

Euro

The official currency used by 19 of the 27 European Union countries, also known by the acronym EUR.