According to Engel's law, as income rises:
A. the percentage spent on food rises.
B. the percentage spent on housing increases.
C. the percentage spent on other categories increases.
D. the percentage spent on savings remains constant.
Answer:C
According to Engel's law, as income rises:
A. the percentage spent on food rises. B. the percentage spent on housing increases. C. the percentage spent on other categories increases. D. the percentage spent on savings remains constant.