Housing is a normal good.That means
A)that most people prefer to purchase their housing rather than rent it
B)that most people tend to purchase more housing if its price falls.
C)that people tend to purchase more housing if their income increases
D)that most people live in houses
E)the people tend to purchase more housing if its price rises

Question

Quizplus · Accepted Answer

A normal good is one whose demand increases as income increases. Housing is a normal good as people tend to purchase more housing when their income increases.

Housing Is a Normal Good.That Means