Question

Suppose that in the last year consumers spent $14 billion on durable goods, $35 billion on non-durable goods, and $46 billion on services. Consumption equals $_____ billion.

Answer 1

Based on the amount that consumers spent on the various types of goods, the consumption for that year would equal $95 billion.

What was the consumption last year?

The consumption spending is everything that consumers spent in a year so in this case that would be:

= Durable goods + Non-durable goods + Services

Solving gives:

= 14 + 35 + 46

= $95 billion

In conclusion, $95 billion was spent on consumption.

Find out more on the use of consumption spending at brainly.com/question/25947470.