The proportion of total expenditure incurred food items declines as total expenditure goes on increasing is
A. Marshall’s law
B. Samuelson’s law
C. Adam smith’s law
D. Engel’s law
Answer:D
The proportion of total expenditure incurred food items declines as total expenditure goes on increasing is
A. Marshall’s law B. Samuelson’s law C. Adam smith’s law D. Engel’s law