Which one of the following statements about consumption spending is incorrect? А. Spending on non-durable goods such as food is the most stable component of consumption spending. B. Spending on durable goods is the most erratic or volatile component of consumption spending. C. Consumption spending is determined largely by total income in the economy. D. Part of consumption spending consists of spending on services. E. There is a strong inverse relationship between consumption spending and total income in the economy
Which one of the following statements about consumption spending is incorrect? А. Spending on non-durable goods such as food is the most stable component of consumption spending. B. Spending on durable goods is the most erratic or volatile component of consumption spending. C. Consumption spending is determined largely by total income in the economy. D. Part of consumption spending consists of spending on services. E. There is a strong inverse relationship between consumption spending and total income in the economy
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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