Multiple Choice
The "income-effect" is best described as the:
A) effect on demand for a good brought about by a change in money income regardless of the changes in prices.
B) effect on demand for a good induced by a change in real income.
C) change in consumer preferences effected by a redistribution of income.
D) effect on demand for a good induced by a change in the market price of the good.
E) none of the above.
Correct Answer:

Verified
Correct Answer:
Verified
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