Economics · National Income Accounting
What does Private Final Consumption Expenditure (PFCE) represent in the expenditure method of calculating Gross Domestic Product (GDP)?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The total value of goods and services consumed by households and non-profit institutions serving households in an economy✓
- 2The total government spending on public infrastructure projects
- 3The total amount of money circulating in an economy at a given point in time
- 4The total value of exports minus imports in a country's economy
Correct answer
The total value of goods and services consumed by households and non-profit institutions serving households in an economy
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