The Effect of a Change in Income on Buying Plans

question 65

Multiple Choice

The effect of a change in income on buying plans is called the

• A)income effect.
• B)substitution effect.
• C)normal effect.
• D)inferior effect.
• E)price effect.

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Definitions:

Schizophrenia

A long-term mental disorder involving a breakdown in the relation between thought, emotion, and behavior, leading to faulty perception and inappropriate actions and feelings.

Prenatal Malnutrition

Insufficient nutritional intake during pregnancy, which can adversely affect fetal development and health.

Neurological Damage

Injury or harm to the nervous system, potentially affecting the brain, spinal cord, or nerves.

Obstetrical Complications

Any problem or disorder that arises during pregnancy, labor, or delivery, potentially affecting the health of the mother or baby.