Expenditures by individuals for durable goods,nondurable goods,and services is known as:
A) personal consumption expenditure.
B) total spending.
C) personal calculated expenditure.
D) personal computed expenditure.

Question

Quizplus · Accepted Answer

Personal consumption expenditure is the correct term used to describe expenditures by individuals for durable goods, nondurable goods, and services. Total spending is a very general term and does not exclusively refer to individual expenditures. Personal calculated expenditure and personal computed expenditure are not used in economics.

Expenditures by Individuals for Durable Goods,nondurable Goods,and Services Is Known