Concept explainers
Personal Consumption Expenditures. The following graph shows the amounts of personal consumption expenditures, in dollars per person per year, in the United States, for four years. The graph also shows the amounts spent on food and on financial services and insurance for those years, labeled as percents of the personal consumption expenditures. Use the graph for Exercises 31-38.
Personal Consumption Expenditures
DATA: TIME, October 10, 2011, p.32; Infoplease.com; U.S. Census Bureau
31. How much were personal consumption expenditures per person in 1950?
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