The three components of personal consumption expenditures are:
a. durable goods, nondurable goods, and services.
b. durable goods, food, and housing.
c. durable goods, nondurable goods, and housing.
d. durable goods, services, and food.
e. durable goods, services, and transportation.
a
You might also like to view...
Which of the following statements regarding black markets is true?
a. The reliability of products sold in black markets is generally higher than the reliability of products sold in legal markets. b. The prices of goods in black markets are generally lower than the prices of similar products in legal markets. c. The laws of supply and demand do not affect the prices of goods exchanged in black markets. d. The rate of violence is higher in black markets than in legal markets.
Within a country, the domestic price of a product will equal the world price if
a. trade restrictions are imposed on the product. b. the country allows free trade. c. the country chooses to import, but not export, the product. d. the country chooses to export, but not import, the product.