Personal consumption expenditures: Group of answer choices do not include any intangible consumption items. represent close to two-thirds of GDP. include all goods and services bought by the government. are equal to personal income minus individual taxes. include durable good purchases but not nondurable good purchases.

intangible consumption items. represent close to two-thirds of GDP

Explanation:

Gross domestic product is the sum of all final goods and services produced in an economy within a given period which is usually a year.

GDP calculated using the expenditure approach = Consumption spending by households on durable and bib durable products + Investment spending by businesses + Government Spending + Net Export

Consumption spending accounts for about 70% of GDP.

Personal consumption isn't equal to income minus tax which is known as disposable income because disposable income can either be saved or used in consumption.

I hope my answer helps you

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