Of the following categories of spending ,which is relatively least important in terms of the magnitude of expenditures?

Question

Quizplus · Accepted Answer

According to the Consumer Expenditure Survey conducted by the Bureau of Labor Statistics, the category of apparel has the lowest magnitude of expenditures compared to the other categories listed. In 2019, the average household spent $1,866 on apparel, while they spent $9,049 on food and beverages, $9,761 on transportation, and $20,679 on housing. Therefore, D (apparel) is the least important category in terms of magnitude of expenditures.

Of the Following Categories of Spending ,Which Is Relatively Least