For a Normal Good,the Income Effect

question 47

Multiple Choice

For a normal good,the income effect

• A)is negative and the substitution effect is positive.
• B)reinforces the substitution effect.
• C)is positive and the substitution effect is negative.
• D)is equal and opposite to the substitution effect.
• E)is zero.

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Definitions:

Source Trait

Fundamental personality traits identified through factor analysis that underpin and contribute to surface behaviors and attitudes.

Rorschach

A psychological test in which subjects' perceptions of inkblots are analyzed to examine personality characteristics and emotional functioning.

Thematic Apperception Test

A psychological assessment tool where respondents reveal their underlying motives, concerns, and the way they see the social world through the stories they make up about ambiguous pictures of people.

Projective Tests

A type of personality assessment that involves the presentation of ambiguous stimuli to subjects, who then project their own perceptions, emotions, and thoughts onto the stimuli.