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with the following table: indirect business taxes $600; depreciation 950; change in business inventories 50; compensation...

with the following table: indirect business taxes $600; depreciation 950; change in business inventories 50; compensation of employees 5,400; corporate profits 700; durable goods 600; exports 100; social security taxes 360;transfer payments 300; fixed investment 950; government spending 800; imports 150; net interest 500; nondurable goods 2,000; personal taxes 1,000; rental income 200; and services 4,000----using the expenditures approach compute personal consumption expenditures

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Answer #1

Personal consumption expenditures represents the spending by individuals on goods and services for personal use. It includes expenditures on durable goods, Non-durable goods & Services.

Personal consumption expenditures = Durable goods + Non-durable goods + Services

                                                          = 600 + 2,000 + 4,000

                                                          = $6,600

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