The BLS surveys 30,000 households on their spending habits. The results are used to construct a market basket of goods and serv
ices 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
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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