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Since constitutions typically make references to all branches of government-including executives and legislatures-why are judiciaries of particular importance for inclusion in a discussion of constitutions?
Income Effect
The change in consumption resulting from a change in real income, with income changes arising from changes in prices, wages, or other factors.
Inferior Good
A type of good for which demand decreases as the income of consumers increases.
Income-Consumption Curve
A graphical representation showing how changes in a consumer's income affect their spending behaviors on different goods.
Marginal Utility
The additional satisfaction or utility that a consumer receives from consuming one more unit of a good or service.
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