Multiple Choice
The income effect of a price change predicts that a _____ in a good's price will _____ consumer purchasing power, leading to a(n) _____ in consumption of _____ goods.
A) fall; increase; increase; normal
B) fall; decrease; decrease; normal
C) rise; increase; increase; inferior
D) rise; decrease; decrease; normal
Correct Answer:
Verified
Correct Answer:
Verified
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