Go to the St. Louis Federal Reserve FRED database, and find data on Personal Consumption Expenditures (PCEC),
Question:
Go to the St. Louis Federal Reserve FRED database, and find data on Personal Consumption Expenditures (PCEC), Personal Consumption Expenditures:
Durable Goods (PCDG), Personal Consumption Expenditures: Nondurable Goods (PCND), and Personal Consumption Expenditures: Services (PCESV).
a) What percentage of total household expenditures is devoted to the consumption of goods (both durable and nondurable)?
b) Given these data, which specific component of household expenditures would be most impacted by a reduction in overall household spending?
Explain.
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To answer these questions we will use data from the St Louis Federal Reserve FRED database on Personal Consumption Expenditures PCEC Personal Consumpt...View the full answer
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