The percentage of consumer income spent on durable goods, nondurable goods and services have changed between 1955 and 2007 as follows:
A. Percentage spent on services has declined.
B. Percentage spent on durable goods has increased.
C. Percentage spent on nondurable goods and durable goods has decreased.
D. Percent spent on durable goods and services has increased.
C. Percentage spent on nondurable goods and durable goods has decreased.
You might also like to view...
Auto and steel workers commonly experience this type of unemployment in a recession
A) frictional unemployment B) cyclical unemployment C) structural unemployment D) natural unemployment rate
In Year 1, the actual budget deficit was $150 billion and the cyclically-adjusted deficit was $125 billion. In Year 2, the actual budget deficit was $130 billion and the cyclically-adjusted deficit was $125 billion. It can be concluded that from Year 1 to Year 2:
A. Real GDP decreased B. Real GDP increased C. Full employment was attained D. Fiscal policy became less expansionary