Examlex
When you double-click the right border of a column heading, which of the following occurs ?
Income Effect
The change in consumer demand for goods and services induced by a change in income, affecting the purchasing power of the consumer.
Substitution Effect
The change in consumption patterns due to a change in relative prices, prompting consumers to substitute one good for another.
Giffen Good
A rare type of good whose demand increases as its price increases, violating the basic law of demand, typically due to the absence of close substitutes.
Historic Preservation Easement
A voluntary agreement that allows a property owner to legally restrict future changes to a historic property to preserve its heritage.
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