Asked by Susana Guerrero on Jul 02, 2024
Verified
Data from the Bureau of Labor Statistics show that the largest category of consumer spending is housing.
Consumer Spending
The total amount of money spent by households in an economy on goods and services.
Bureau Of Labor Statistics
A U.S. government agency responsible for collecting and analyzing labor economic data to support public and private decision making.
Housing
Housing encompasses the market for dwelling places, including their construction, purchase, rent, and sale.
- Analyze the factors affecting consumer spending patterns as indicated by the CPI.
Verified Answer
MW
Msibis Wendy6 days ago
Final Answer :
True
Explanation :
Housing typically represents the largest category of consumer spending for most households, as reported by the Bureau of Labor Statistics, covering expenses such as rent, mortgage payments, property taxes, and maintenance.
Learning Objectives
- Analyze the factors affecting consumer spending patterns as indicated by the CPI.