Final answer:
Housing is the largest expense in the average American's budget, accounting for about one-third of consumption expenditures.
Step-by-step explanation:
Based on the data provided by the Consumer Expenditure Survey from the U.S. Bureau of Labor Statistics, the largest expense in the average American's budget is typically housing. In 2015, the average U.S.
household spent about $48,109 on consumption, with approximately one-third of this amount going towards shelter and other housing expenses.
This makes housing a more significant portion of spending compared to other categories like transportation, healthcare, and entertainment.
According to the information from the Consumer Expenditure Survey, in the average American's budget, the largest expense is typically housing.
The average U.S. household spent roughly one-third of its consumption on shelter and other housing expenses. This makes housing the largest expenditure category for most Americans.
Housing is the largest expense in the average American's budget, accounting for about one-third of consumption expenditures.