Examlex
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Income Effect
The variation in a person's or an economy's earnings and its effect on the amount of a product or service that is requested.
Money Income
The total amount of monetary earnings or receipts accruing to an individual or household over a specified period of time.
Purchasing Power
The value of a currency expressed in terms of the amount of goods or services that one unit of money can buy.
Market Demand Curve
A graphical representation showing the quantity of a good that consumers are willing and able to purchase at different price points, holding other factors constant.
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