The Substitution Effect

question 61

Multiple Choice

The substitution effect

• A) is generally so weak that its effect cannot be predicted.
• B) for an increase in the relative price of a good is sometimes positive but sometimes negative.
• C) measures the change in the quantity demanded of a good from a change in its relative price.
• D) measures the change in the quantity of a good demanded brought about by a change in real income associated with a change in the price of the good.

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Definitions:

Efferent Arteriole

A blood vessel that carries blood away from the glomerulus of the kidney after filtration has occurred.

Glomerulus

A network of capillaries located at the beginning of a nephron in the kidney, involved in the filtration of blood.

Renal Artery

A blood vessel that supplies the kidneys with oxygenated blood from the heart.

Nephron

The basic structural and functional unit of the kidney responsible for filtering and purifying blood to produce urine.