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Economics
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The income effect refers to the impact of a change in:

A. Income due to changes in price

B. Quantity demanded due to change in nominal income

C. Quantity demanded due to change in real income

D. Income due to change in expectations

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Yusra Anees
Yusra AneesLv10
3 Nov 2020
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Related questions

Price elasticity of supply is used to gauge:

a. how quantity demanded changes due to change in price

b. how supply of funds changes due to change in interest rate

c. how quantity supplied changes due to change in price

d. how supply of money changes due to change in price index

70) The income elasticity of demand equals the percentage change in A) price divided by the percentage change in income. B) price divided by the percentage change in quantity demanded. C) income divided by the percentage change in quantity demanded. D) quantity demanded divided by the percentage change in income. E) quantity demanded divided by the percentage change in price

The price elasticity of demand measures how much:

a. quantity demanded responds to a change in price

b. quantity demanded responds to a change in income

c. price responds to a change in demand

d. demand responds to a change in supply

 

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