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Consumer Spending by Type, 2002 (in billions)

Consumer Spending by Type, 2002 (in billions). Total consumption by U.S. households in 2002 was a $7.3 trillion. Source: Bureau of Economic Analysis. Two Approaches to Measuring GDP, 2002 (all data in billions of dollars). Note: These figure are subject to revision.

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Consumer Spending by Type, 2002 (in billions)

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  1. Consumer Spending by Type, 2002 (in billions) Total consumptionbyU.S. householdsin 2002 was a $7.3trillion Source:Bureau of Economic Analysis

  2. Two Approaches to Measuring GDP, 2002(all data in billions of dollars) Note: These figure are subject to revision Source: Bureau of Economic Analysis

  3. From National Income to Disposable Income, 2002(all data in billions) Note: These figure are subject to revision Source: Bureau of Economic Analysis

  4. Personal disposable income is a good measure of the spending powerof the household sector

  5. Measuring GDP: A Summary Expenditure Approach:GDP = C + I + G + NX Value-Added Approach:GDP = Sum of value added created by all firms Factor payments approach: GDP = Sum of factor payments made by all firms = wages and salaries + interest + rent + profit = National Income

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