Multiple Choice
Jim recently graduated from college.His income increased tremendously from earning $5000 a year to $60,000 a year.Jim decided that instead of renting he will buy a house.This implies that
A) Houses are normal goods for Jim
B) Houses are inferior goods for Jim
C) Renting and Owning are complementary for Jim
D) Need information on the price of houses
Correct Answer:
Verified
Correct Answer:
Verified
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