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The relationship between age and olfactory impairment indicates that, across the life span:
Normal Goods
Goods for which demand increases as consumer income rises, holding prices constant.
Steak
A cut of meat, typically beef, that is sliced perpendicular to the muscle fibers.
Price-Consumption Curves
Graphical lines that show how a consumer's optimal bundle of goods changes as the price of one good changes, holding everything else constant.
Engel Curves
Graphical representations showing how household expenditure on a good varies with income.
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