Question

When economists attempt to predict the spending patterns of U.S. households, they will typically view the _____________________ as a primary determining factor that in?uences the individual consumption choices that each will make?

Answer 1

When economists attempt to predict the spending patterns of U.S. households, they will typically view the DAILY COST OF LIVING as a primary determining factor that influences the individual consumption choices that each will make.

An economist can predict the spending power of the masses if he/she knows how much energy and monetary value is being spent on a daily basis. This way he/she will know the consumption choices that these consumers are making for themselves.