The diagram in panel b (graph) is an example of
A. a demand curve
B. the substitution effect
C. the income effect
D. a demand schedule
Ans: A. a demand curve
Economics
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A) no change B) a larger decrease C) an large increase D) a smaller decrease
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Which of the following is an example of a subsidized service?
A) Social Security payments to retirees B) Social Security payments to widows C) welfare payments to the unemployed D) Medicare reimbursements to hospitals
Economics