Suppose that consumption spending is $3,200 billion, spending on durable goods is $800 billion, and spending on services is $1,800 billion.  What does spending on nondurable goods equal?

A business cycle refers to the

Table 7-3 Durable goods $3,000 Services   6,000 Business purchases of capital goods     400 Fixed investment     850 Exports     600 Imports     800 Nondurable goods     700 Inventory investment     200 Government transfer payments     100 Purchases of new residential housing     450 Government purchases     900 ​ ​Refer to Table 7-3. Net exports is equal to

The expenditure approach to computing GDP measures 

Government purchases consist of the total dollar amount(s) spent on goods and services by the

Personal income is

Consumption expenditures in the U.S. usually account for approximately __________ percent of GDP.

The sum of durable goods, nondurable goods, and services equals

Which of the following is a nonmarket good?

Personal income is equal to consumption plus saving.