Consumption spending includes:
a. durable goods, nondurable goods, and housing.
b. durable goods, nondurable goods, and imports.
c. durable goods, services, and housing.
d. durable goods, nondurable goods, and services.
e. nondurable goods, services, and housing.
d
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Some nations that seek to produce all of their own needs face the problem that a. they can deplete their natural resources faster as a result
b. some industries are too small to be efficient if restricted to their domestic markets alone. c. the opportunity cost of producing some of their own goods is higher than that of trading with others for them. d. all of the above are true.
As one moves down a straight-line demand curve away from the vertical axis, demand becomes less elastic and then inelastic.
Answer the following statement true (T) or false (F)