-What Is the Effect on Income If There Is a Decrease

question 5

Multiple Choice

-What is the effect on income if there is a decrease in the price of a product?

• A)It will increase consumers' real income while leaving their actual income unchanged.
• B)It will increase consumers' actual income while leaving their real income unchanged.
• C)It will decrease demand.
• D)It will have no effect on income.

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Definitions:

Recall

The act of remembering or being able to bring back to mind an experience, fact, or piece of information.

Encoding

The method of changing data into a structure suitable for memory preservation.

Retention Measurement

The method of assessing the degree to which information or skills are maintained over time by an individual or group.

Recall

The act of retrieving information or memories from the past without being explicitly prompted to do so.