Often, memory consumption will be similar, since the class you import is likely to result from using other classes in the same package due to inheritance logic and functionality.
At my school (junior high school year) they currently force us to import the entire package. This is mainly due to the fact that our IDE (BlueJ) offers a minimum of minimum autocompletion, and therefore it would be very painful to be able to import each individual class that we use.
Personally, I use Eclipse and IDEA for my work and import each class manually. This prevents conflicts between the same name classes in different packages, which helps me a lot, since Android has equivalent classes for many Java frameworks, but in a different package.
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