Consuming More of a Good That Has Become Cheaper in Place

question 165

Multiple Choice

Consuming more of a good that has become cheaper in place of a good that has become relatively more expensive is the:

• A)income effect.
• B)substitution effect.
• C)budget constraint.
• D)inferior effect.

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Definitions:

Harvesting Rice

The process of collecting ripe rice crops from the fields, a vital agricultural activity that occurs seasonally and involves manual and mechanized methods.

American War for Independence

The revolutionary war fought from 1775 to 1783 in which the Thirteen American Colonies won independence from British rule, leading to the formation of the United States of America.

Natchez

A city in Mississippi known for its rich history, particularly before and during the Civil War, including its role in the slave trade.

Black Louisianans

African American residents of Louisiana, with a rich cultural heritage that includes Creole and Cajun influences.