The Income Effect Refers to the Impact of a Change

question 32

Multiple Choice

The income effect refers to the impact of a change in:

• A)money income of consumers on the price of a good.
• B)the relative price of a good on the demand for other goods.
• C)the price of a good on a consumer's real income.
• D)the price of a substitute good on a consumer's budget.
• E)money income of consumers on the demand for a good.

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