Which of the following are most likely classified by economists as consumer durable goods?

• A. Gasoline
• B. Automobiles
• C. Bread
• D. Milk

Answer: (B)

Verified step by step guidance

1. Step 1: Understand the definition of consumer durable goods. These are goods that provide utility over a long period of time, typically lasting more than three years, and are used repeatedly rather than consumed immediately.
2. Step 2: Analyze each option based on this definition. Gasoline, bread, and milk are consumed quickly and do not last over time, so they are classified as nondurable goods.
3. Step 3: Consider automobiles. Automobiles are used repeatedly over several years and provide ongoing utility, fitting the definition of consumer durable goods.
4. Step 4: Conclude that among the options given, automobiles are most likely classified as consumer durable goods because they last a long time and are not consumed immediately.
5. Step 5: Remember that consumer durable goods contrast with nondurable goods and services, which are consumed quickly or provide utility only once.