The value of goods and services purchased by households during a particular period is called:
A) personal consumption.
B) private investment.
C) gross domestic purchases.
D) net imports.

Question

Quizplus · Accepted Answer

Personal consumption refers to the total value of goods and services purchased by households, which is a key component of measuring a country's economic activity. Private investment refers to spending by businesses on capital goods, while gross domestic purchases refer to the total spending on final goods and services within a country's borders. Net imports refer to the difference between the value of imports and exports.

The Value of Goods and Services Purchased by Households During