Household spending on education is included in
a. consumption, although it might be argued that it would fit better in investment.
b. investment, although it might be argued that it would fit better in consumption.
c. government spending, based on the fact that most higher-education students attend publicly-supported colleges and universities.
d. None of the above is correct; in general, household spending on services is not included in any component of GDP.
a
You might also like to view...
All else being equal, if the rate of growth in productivity in Spain is greater than the rate of growth in productivity in the United States, the euro
A) will decrease in value relative the U.S. dollar. B) will nominally depreciate against the dollar, but its real value relative to the dollar will remain unchanged. C) will increase in value relative to the U.S. dollar. D) will nominally appreciate against the dollar, but its real value relative to the dollar will remain unchanged.
The above figure shows the market for rice in Japan. S2 represents the domestic supply curve, and S1 represents the world supply curve. Currently 10 units are imported. The Consumption distortion loss is equal to
A) c+e. B) c. C) c+g+i. D) a + c + d + e.