An income effect
A. is measured as the change in prices over time.
B. is not possible when people are unemployed.
C. requires interest rates to remain constant.
D. is the change in the quantity demand due to the fact that real income changes when prices
change.
A. is measured as the change in prices over time.
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The opportunity cost to a city for using local tax revenues to construct a new park is the:
a. best alternative foregone by building the park. b. dollar cost of constructing the new park. c. dollar cost of the old park. d. increased taxes necessary to pay for maintenance of the new park.
If Carlos is waiting to be called back to his job from which he has been temporarily laid off, the Bureau of Labor Statistics will classify him as unemployed
Indicate whether the statement is true or false