Examlex

Solved

The Change in Consumption of a Good Resulting from the Implicit

question 7

Multiple Choice

The change in consumption of a good resulting from the implicit change in income because of a price change is called the _______ effect of a price change.


Definitions:

American Psychological Association

A professional organization representing psychology in the United States, aiming to advance psychology as a science, a profession, and a means of promoting health and human welfare.

Longitudinal Study

A research design that follows the same subjects over a period of time, often years, to observe changes and developments.

Developmental Psychologist

A professional in psychology who studies the growth and maturation of the human mind and behavior over a person's lifetime.

Personality

A set of enduring behaviors, cognitions, and emotional patterns that emerge from biological and environmental factors.

Related Questions