Effect of stock market on consumer spending and saving. According to Economic Inquiry (Jan. 2009), 6


Question: Effect of stock market on consumer spending and saving.

According to Economic Inquiry (Jan. 2009), 60% of all U.S. households own stock. A sample of these stockholders was asked what recent trends in the stock market have had on their saving and spending. The responses are summarized in the table below. A U.S. household is selected at random.

Stock Market Effect on Spending/Saving Percent of Stockholders.
No effect 80.0
Spend more/save less 5.0
Spend less/save more 15.0
Total 100.0

What is a probability that the household does not own a stock?

Price: $2.99
See Answer: The solution consists of 1 page
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