For a Renter, the Income Effect of an Increase in Apartment

Multiple Choice

For a renter, the income effect of an increase in apartment rents will

A) have a greater effect than the income effect of an increase in the price of chewing gum
B) have no impact on the demand curve for apartments, because everything except price is assumed constant
C) have less of an effect than the income effect of an increase in the price of chewing gum
D) be almost negligible, because housing is a necessity
E) occur only when income increases