Question

The BLS surveys​ 30,000 households on their spending habits. The results are used to construct a market basket of goods and services purchased by the typical urban family of four. The chart on the right shows these goods and services grouped into eight broad categories for December 2016. The percentages represent the expenditure shares of the categories within the market basket. Which of the following categories make up about​ three-quarters of the market​ basket? A. medical​ care, housing, and food B. ​housing, transportation, and food C. ​housing, medical​ care, and education D. medical​ care, recreation and food

Answer 1

Answer:

B. housing, transportation, and food

Explanation:

According to my research on basic economics and household spending habits, I can say that based on the information provided within the question it is housing, transportation, and food that make up three-quarters of the market basket. This is because these are the three categories that are considered necessities within a normal household. This is because housing provides shelter, food provides nutrition, and transportation provides a means of getting to work. Which are all necessities.

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