The Income Effect Is

Multiple Choice

The income effect is:

A) the change in the amount of the good consumed holding the level of income constant.
B) the change in the amount of the good consumed as the price of the good changes holding income constant.
C) the change in the amount of the good consumed as the price of the good changes holding utility constant.
D) the change in the amount of the good consumed as the consumer's utility changes holding the price of the good constant.