One In the News article titled "Consumer Spending Drops 1 Percent" suggests that the drop in consumer spending in late 2008 was worrisome for the economy because
A) Interest rates could not be lowered further to compensate for the drop in consumer spending.
B) Consumer spending accounts for nearly two-thirds of GDP.
C) Foreigners would not likely be buying many U.S.exports to offset the fall in domestic spending.
D) Many economists had forecast a fourth quarter economic rebound.
Correct Answer:
Verified
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