Math Problem Statement
Question content area top Part 1 An organization estimated that in a particular year the population of a country spent $10.5 trillion in personal consumption. The major categories of these expenditures are durable goods ($1.4 trillion; for example, cars, furniture, recreational equipment), nondurable goods ($2.5 trillion; for example, food, clothing, fuel), and services ($6.4 trillion; for example, health care, education, transportation). Complete parts (a) through (e) below. Question content area bottom Part 1 a. What is the approximate annual per capita spending for personal consumption? Assume a population of 340 million. $ 30,882/person/yr (Round to the nearest dollar as needed.) Part 2 b. What is the approximate daily per capita spending for personal consumption? $ 85/person/day (Round to the nearest dollar as needed.) Part 3 c. On average about what percentage of personal spending is devoted to services? 61% (Round to the nearest percent as needed.) Part 4 d. Spending on health care was estimated to be $1.5 trillion in that year. About what percentage of all personal spending is devoted to health care? enter your response here%
Solution
Ask a new question for Free
By Image
Drop file here or Click Here to upload
Math Problem Analysis
Mathematical Concepts
Arithmetic
Percentage Calculations
Formulas
-
Theorems
-
Suitable Grade Level
High School
Related Recommendation
Probability of Tourists Spending Over $200 Per Day - Normal Distribution Analysis
Population Analysis and Percentages in France 2022
Calculate Clothing Budget from Total Annual Income and Percentages
Solving a Percentage Problem: Calculate Initial Savings
Calculate Consumption Expenditure as 64% of GDP from GNP and NNP