U.S. Consumers Keep On Spending as Income Gains Cool

The video discusses the trends in income and spending levels, highlighting a revision in spending and a decrease in wage growth despite a strong labor market. It examines the impact of tax cuts, noting a temporary boost followed by a decline, and addresses public perception that benefits favored the wealthy. The video also explores various income sources, such as Social Security and farm payments, and their influence on personal income numbers, emphasizing the need to focus on wage data for economic insights.

What was the unexpected development in the income numbers despite the strong labor market?

• High wage growth

• Low wage growth

• Stable wage growth

• Decreasing spending levels

What was the initial effect of the tax cuts on spending levels?

• A gradual increase

• A sudden decrease

• No change

• An immediate jump

What is a common perception about the beneficiaries of the tax cuts?

• They mostly benefited the middle class

• They mostly benefited the rich

• They had no significant impact

• They were equally distributed

Which of the following is NOT included in the income numbers?

• Wage numbers

• Social Security payments

• Farm payments

• Stock market investments

Why is it important to focus on wage numbers separately from other income sources?

• They provide a clearer economic trend

• They include all types of income

• They are less affected by government policies

• They are more stable