Figure EX 13-1 in Figure EX 13-1 Above, Item

question 27

Multiple Choice

Figure EX 13-1 In Figure EX 13-1 above, item 1 points to the ____.

• A) Formula Bar
• B) Row Box
• C) Legend
• D) Name Box

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Definitions:

Income Effect

How shifts in the financial status of individuals or whole economies affect their purchasing desires for specific goods or services.

Price Increase

An increase in the price of products or services.

Income Effect

Variations in income for persons or within economies and how these variations modify the demand for goods or services.

Consumer's Spending

The total amount of money spent by individuals or households on goods and services within a particular period.