What Are the Two Effects of a Change in a Price

question 218

Multiple Choice

What are the two effects of a change in a price that a consumer experiences?

• A)the income effect and the budget effect
• B)the complement effect and the substitute effect
• C)the price effect and the preference effect
• D)the income effect and the substitution effect

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Definitions:

GFR

Glomerular Filtration Rate, a measure of the rate at which the kidneys filter blood, used to assess kidney function.

Pressure Gradient

A physical concept describing the difference in pressure levels across a space, driving fluids or gases from areas of higher to lower pressure.

Filtrate Formed

The liquid portion that has been passed through a filter during the process of filtration, containing substances dissolved in a fluid.

Filtration Pressure

Pressure gradient that forces fluid from the glomerular capillary through the filtration membrane into Bowman’s capsule; glomerular capillary pressure minus glomerular capsule pressure minus colloid osmotic pressure.