Which of the following is the correct format for a business letter heading? a)) recipient’s name recipient’s title recipient’s street address city, state and zip code b)) recipient’s title recipient’s name recipient’s street address city, state and zip code c)) recipient’s title and name recipient’s street address city, state and zip code d)) recipient’s street address city, state and zip code recipient’s title and name

Consumption expenditure on durable goods

Explanation:

Consumption expenditure includes expenditure on goods which are used for final consumption by households. This can be further classified into,

i) Expenditure on durable goods that is goods that can be used over a longer life span such as cars, furniture, refrigerator, etc

ii) Expenditure on non-durable goods that are goods that have a short-life span and thus must be stored for a longer time such as food, clothing, etc

iii) Expenditure on services  such as banking, insurance, traveling, etc

Thus, purchase of a new car is included in consumption expenditure on durable goods.