Question

An organization estimated that in a particular year the population of a country spent 10.6 trillion in personal consumption. The major categories of these expenditures are durable goods ( 1.4)

for example, cars, fumiture, recreational equipment), nondurable goods ( 2.8 trillion, for example, food, clothing, fuel), and services ( 6.2 billion, for example, health care, education, transportation)
Complete parts (a) through (e) below
a. What is the approximate annual per capita spending for personal consumption? Assume a population of 335 million
personly
(Round to the nearest dollar as needed)

Answer 1

To find the approximate annual per capita spending for personal consumption, we can divide the total personal consumption spending by the population.
Given:
- Total personal consumption
spending = $10.6 trillion
- Population = 335 million
To find the per capita spending, we divide the total personal consumption spending by the population:
$10.6 trillion / 335 million =
$31,641.79
So, the approximate annual per capita spending for personal consumption is $31,641.79.
Please note that this is an approximate value and may vary depending on the precise calculation To find the per capita spending, we divide the total personal consumption spending by the population:
$10.6 trillion / 335 million =
$31,641.79
So, the approximate annual per capita spending for personal consumption is $31,641.79.
Please note that this is an approximate value and may vary depending on the precise calculation method used.

Answer 2

$31,642

Explanation:

You want to know the per capita spending for personal consumption if a population of 335 million spent $10.6 trillion on personal consumption.

Per capita

The amount per person is found by dividing the total amount by the number of persons:

(10.6 trillion)/(335 million) ≈ 31642

Personal consumption spending was about $31,642 per person.

<95141404393>