曼昆宏观英语课件23章(1).pptVIP

* Mostly, the term “consumption” refers to what students probably already think of as total consumer spending. The note about the treatment of owner-occupied housing is a not-so-obvious exception, and some of the test bank questions are designed to see if students remember this exception. (For more on this issue, see the notes accompanying the following slide.) * More on the treatment of owner-occupied housing: In the national income and product accounts, a house is considered a piece of capital that is used to produce a flow of services – housing services. When a consumer (as a tenan