Examlex
Which of the following statements is FALSE?
Substitution Effect
The change in consumption patterns due to a change in price, leading consumers to substitute one product for another.
Real Balance Effect
An economic theory suggesting that inflation or deflation changes individuals' purchasing power, affecting their real income and consumption patterns.
Marginal Utility
The additional satisfaction or utility gained by consuming one more unit of a good or service.
Total Utility
The total satisfaction received from consuming a given total quantity of a good or service.
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