The Component of GDP Called Consumption Consists of

Multiple Choice

The component of GDP called consumption consists of

A) household spending on durable goods, but not household spending on nondurable goods or on services.
B) household spending on durable and nondurable goods, but not household spending on services.
C) household spending on durable and nondurable goods as well as household spending on services.
D) spending by households and business firms on durable and nondurable goods as well as spending by households and business firms on services.