Housing is a normal good. That means

a. that most people prefer to purchase their housing rather than rent it
b. that most people tend to purchase more housing if its price falls.
c. that people tend to purchase more housing if their income increases
d. that most people live in houses
e. the people tend to purchase more housing if its price rises

C

Economics

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According to this Application, tariffs in the United States are very high on textiles, apparel items, and footwear, and within these categories tariffs are highest on the cheapest products

These tariffs disproportionately impact lower-income households because A) only lower-income consumers buy cheap, imported products. B) these cheaper products tend to be purchased by lower-income consumers. C) higher-income consumers can deduct the tariff from their income taxes. D) higher-income consumers tend to refuse to purchase products with tariffs.

Economics

Payroll taxes levy taxes on ________

A) consumption B) imports C) wages D) exports

Economics