Millennials Projected to Spend $1.4 Trillion as Influence Grows In 2020, U.S. millennials are projected to spend $1.4 trillion, which will make them the country's highest spending generation. In 2018, millennials were big spenders on pet food $6 billion and on lawn and garden supplies-$12 billion, and these amounts are expected to grow. Source: bizjournals.com, January 13, 2020 Explain the effect of increased expenditure by millennials on real GDP and the price level in the short run. Increased expenditure by millennials A. increases; increases OB. decreases; decreases OC. decreases; increases OD. increases; decreases real GDP and 4 .. the price level in the short run.