Housing Is a Normal Good That Tends to Take Up

question 181

Multiple Choice

Housing is a normal good that tends to take up a substantial share of a consumer's spending.An increase in the price of housing will result in:

• A) both the income and substitution effects to decrease the quantity demanded of housing.
• B) both the income and substitution effects to increase the quantity demanded of housing.
• C) the income effect to increase the quantity demanded of housing and the substitution effect to decrease the quantity demanded of housing.
• D) the income effect to decrease the quantity demanded of housing and the substitution effect to increase the quantity demanded of housing.

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Organizational Citizen

An employee who goes beyond the required duties of their position to contribute positively to the organization's culture and functioning.

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