Examlex
What are two causes of the subsidence of New Orleans?
Income Effect
The alteration in the income of either a person or an economy and the impact this change has on the demand for a specific product or service.
Inferior Good
A type of good for which demand decreases as the income of the consumer increases, opposite to normal goods.
Substitution Effect
The change in consumption patterns due to a change in the price of goods, leading consumers to substitute one good for another.
Income Effects
The shift in income for either an individual or an economy, and its subsequent effect on the amount of a good or service desired.
Q13: The distance to the epicenter of an
Q18: Swells refer to the trough of the
Q40: Which gas accounts for the majority (more
Q42: Which of the following is <b>NOT</b> a
Q48: Approximately how old is the Sun?<br>A) 14
Q49: There is 20 times more ground shaking
Q51: Which of the following is <b>NOT</b> a
Q61: How does pumping oil contribute to land
Q63: What conditions are <b>NOT</b> associated with development
Q72: Which of the following does <b>NOT</b> play