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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

Consumption spending is $3.708 trillion, spending on nondurable goods is $1.215 trillion, and spending on services is $2.041 trillion. What does spending on durable goods equal?

To determine

Estimate the spending on durable goods.

Explanation

The value of consumption spending is $3.708 trillion, spending on non-durable goods is $1.215trillion, and the spending on goods and services is $2.041, then the spending on durable goods can be calculated using the following formula:

Consumption=(Spending on durable goods+Spending on nondurable goods+Spending on goods and services) 

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