-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:

Carbon Dioxide

A colorless, odorless gas composed of one carbon and two oxygen atoms, widely known for its role in the carbon cycle and as a greenhouse gas.

Water

A clear, colorless, odorless, and tasteless liquid, composed of hydrogen and oxygen (H2O), essential for most plant and animal life and the most widely used solvent.

Glucose

A simple sugar that is an important energy source in living organisms and is a component of many carbohydrates.

Photosynthesis

The process by which green plants and some other organisms use sunlight to synthesize nutrients from carbon dioxide and water.