An Imaginary Adjustment of a Consumer's Income at the Same

question 155

Multiple Choice

An imaginary adjustment of a consumer's income at the same instant a price changes, so the consumer has just enough to buy the same goods and services at the new price is:

• A) the substitution effect.
• B) the income effect.
• C) an income-compensated price change.
• D) a price-compensated utility change.

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Definitions:

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