Critical Questions for Understanding Applied Macroeconomics

Question #1:
Define and discuss consumption and its importance to the U.S. economy. What factors influence consumption? How does consumer confidence affect the level of Personal Consumption Expenditures? What is the current level of Personal Consumption Expenditures in the U.S.? . What is the current consumer confidence index? Do you believe that the consumer will continue to spend at levels shown in the recent past? Why or why not?
Consumption is, by definition, the goods and services purchased by consumers. …