The income effect of a price change refers to the impact of a change in

A) income on the price of a good.
B) the quantity demanded when income changes.
C) the price of a good on a consumer's purchasing power.
D) demand when income changes.


C

Economics

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On average, prices rise __% in that typical 12-day shopping window

Fill in the blank(s) with the appropriate word(s).

Economics

In this graph for the marginal costs and benefits of pollution controls, at output level Q1, pollution control is ______.


a. unnecessary
b. optimized
c. insufficient
d. excessive

Economics

The effort used to coordinate the factors of production is a description of:

A. physical capital. B. human capital. C. labor. D. entrepreneurship.

Economics

Demand is elastic along the upper half of a linear demand curve, which means that a decrease in price will increase the quantity sold by a larger percentage amount.

Answer the following statement true (T) or false (F)

Economics