Create a custom practice set
Pick category, difficulty, number of questions, and time limit. Start instantly with your own quiz.
Generate QuizAccording to ___ Law, as a family's income increases, the proportion of its income spent on food decreases, even if the absolute expenditure on food rises.
- bracket creep (or fiscal drag)
- Engel's
- Vote on Account
- not (or never)
Answer: Engel's
Engel's Law is an observation in economics stating that the proportion of income spent on food is inversely related to income levels. This implies that lower-income families spend a much larger fraction of their earnings on basic sustenance compared to wealthier families.