Asked by Taylor Fujimoto on Apr 28, 2024
Verified
When consumer spending is broken down into the major categories of goods and services, the largest single category is spending on transportation.
Consumer Spending
The total amount spent by consumers on goods and services within a particular period, driving a significant portion of economic activity.
Transportation
The movement of people or goods from one location to another using various modes such as road, rail, air, or sea.
- Identify the principal classifications within consumer expenditure and their influence on the Consumer Price Index.
Verified Answer
DA
Débora AssumpçãoApr 30, 2024
Final Answer :
False
Explanation :
The largest single category of consumer spending is typically on housing and related expenses, not transportation.
Learning Objectives
- Identify the principal classifications within consumer expenditure and their influence on the Consumer Price Index.