Question

Personal consumption expenditures: Group of answer choices do not include any intangible consumption items. represent close to two-thirds of GDP. include all goods and services bought by the government. are equal to personal income minus individual taxes. include durable good purchases but not nondurable good purchases.

Answer 1

Answer:

intangible consumption items. represent close to two-thirds of GDP

Explanation:

Gross domestic product is the sum of all final goods and services produced in an economy within a given period which is usually a year.

GDP calculated using the expenditure approach = Consumption spending by households on durable and bib durable products + Investment spending by businesses + Government Spending + Net Export

Consumption spending accounts for about 70% of GDP.

Personal consumption isn't equal to income minus tax which is known as disposable income because disposable income can either be saved or used in consumption.

I hope my answer helps you