Multiple Choice
The income effect refers to the impact of a change in:
A) money income of consumers on the price of a good.
B) the relative price of a good on the demand for other goods.
C) the price of a good on a consumer's real income.
D) the price of a substitute good on a consumer's budget.
E) money income of consumers on the demand for a good.
Correct Answer:

Verified
Correct Answer:
Verified
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