Consumer expenditures on durable goods, such as cars and furniture, as well as purchases of new houses,

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Consumer expenditures on durable goods, such as cars and furniture, as well as purchases of new houses, fall much more than expenditures on nondurable goods and services during recessions. Why do you think that is?

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Macroeconomics

ISBN: 978-0321675606

6th Canadian Edition

Authors: Andrew B. Abel, Ben S. Bernanke, Dean Croushore, Ronald D. Kneebone

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Question Posted: Apr 01, 2016 03:51 AM

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Consumer expenditures on durable goods, such as cars and furniture, as well as purchases of new houses,

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Expenditure on durable goods is more sensitive to the business cyc...View the full answer

Macroeconomics

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