But it holds even if we calculate as a percentage of expenditures rather than as a percentage of income.
The poor tend to spend more of their money on hard goods and the rich a higher percentage on services. And of course goods are a lot easier to import than services.
But it holds even if we calculate as a percentage of expenditures rather than as a percentage of income.
The poor tend to spend more of their money on hard goods and the rich a higher percentage on services. And of course goods are a lot easier to import than services.