The Income Effect Is

question 90

Multiple Choice

The income effect is:

• A)the change in the amount of the good consumed holding the level of income constant.
• B)the change in the amount of the good consumed as the price of the good changes holding income constant.
• C)the change in the amount of the good consumed as the price of the good changes holding utility constant.
• D)the change in the amount of the good consumed as the consumer's utility changes holding the price of the good constant.

---

Definitions:

Mononucleosis

An infectious disease, often called "mono," characterized by fever, sore throat, and swollen glands, commonly caused by the Epstein-Barr virus.

In-group

A social group to which a person psychologically identifies as being a member, often leading to favoritism toward group members and discrimination against non-members.

Primary Emotions

Basic emotions experienced by humans, such as happiness, sadness, fear, and anger, that are universal across cultures.

Secondary Emotions

Complex feelings that develop from primary emotions and involve a higher level of cognitive appraisal, such as guilt, shame, pride, and embarrassment.