If Consumers Are More Willing to Spend Money on Property

question 84

True/False

If consumers are more willing to spend money on property as their incomes increased within a prosperous economy, property is likely to be a normal good.

---

Definitions:

Player

An individual, group, or entity participating in a competitive or cooperative activity, often used in the context of games, sports, or market participants.

Negative-sum Games

Situations in which the total losses exceed the total gains, leading to a net decrease in wealth or benefit.

Incentive

A thing that motivates or encourages someone to do something, particularly in economic contexts to influence behaviors.

Dominant Strategy

A strategy in game theory that is best for a player regardless of the strategies chosen by the other players.