Based on the following statistics, how much is consumption? Total spending Investment Government spending $2.95 trillion Exports Imports $11.62 trillion $2.56 trillion $1.80 trillion $2.18 trillion $6.49 trillion -$0.38 trillion $11.62 trillion O $5.13 trillion
Based on the following statistics, how much is consumption? Total spending Investment Government spending $2.95 trillion Exports Imports $11.62 trillion $2.56 trillion $1.80 trillion $2.18 trillion $6.49 trillion -$0.38 trillion $11.62 trillion O $5.13 trillion
Chapter10: Kenesian Macroeconomics And Economic Instability: A Critique Of The Self Regulating Economy
Section: Chapter Questions
Problem 11QP
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Consumption is the quantity of final commodities that residents are willing to purchase for meeting their basic wants and needs. It is a direct function of disposable income as residents tend to enjoy a higher consumption when they have a higher income.
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