Comparing the income effects between salt and housing, the

Name: Comparing the income effects between salt and housing, the
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Housing is a necessity for everyday life, and as income increases, people tend to spend a larger portion of their income on housing (i.e., their expenditures on housing increase faster than their income). This indicates that the income effect for housing will be greater than that of salt, which is a relatively small portion of people's overall spending.

Comparing the Income Effects Between Salt and Housing, the