Expenses for necessities, such as food and personal care products and services, remains constant as a proportion of income as household income increases.

Name: Expenses for necessities, such as food and personal care products and services, remains constant as a proportion of income as household income increases.
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Question

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These expenses tend to decrease as a proportion of income as household income rises, allowing higher-income individuals to spend more on other things.

Expenses for Necessities, Such as Food and Personal Care Products