PERSONAL CONSUMPTION EXPENDITURES: The official item in the National Income and Product Accounts maintained by the Bureau of Economic Analysis measuring household consumption expenditures on gross domestic product. Personal consumption expenditures are far and away the largest and tends to be the most stable of the four expenditures, averaging about 65-70% of gross domestic product. The other official expenditures included in the National Income and Product Accounts are gross private domestic investment, government consumption expenditures and gross investment, and net exports of goods and services.

     See also | consumption | consumption expenditures | household sector | National Income and Product Accounts | Bureau of Economic Analysis | gross domestic product | gross private domestic investment | government consumption expenditures and gross investment | net exports of goods and services |

PERSONAL CONSUMPTION EXPENDITURES, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: May 17, 2024].

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An aspect of a scientific theory that includes fundamental, and unverifiable, axioms, beliefs, and values about how the world works. One example of an unverifiable world view axiom is belief in the existence of a supreme, omnipotent, omniscience being--that is, God. Political philosophies, which are essential to economic theories and policies, are intertwined with alternative world views.

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