2540009
Description
Flashcards by Mark Solomons, updated more than 1 year ago
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Created by Mark Solomons
over 10 years ago
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| Question | Answer |
| Reflects the way that a change in price of a good affects purchasing power (real income) | The income effect of a price change |
| reflects the way that a change in the price of a good affects relative prices. | Substitution effect of a price change |
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