When the price of a good rises and you buy the same quantity of that good, you have less money to be

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When the price of a good rises and you buy the same quantity of that good, you have less money to be

When the price of a good rises and you buy the same quantity of that good, you have less money to be able to purchase more of other goods. This is the:
A) income effect.
B) substitution effect.
C) output effect.
D) measured effect

Textbook

Principles of Macroeconomics

Edition: 11^th

Authors: Case, Fair, Oster

Read 90 times

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NYC Author

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8 years ago

Perfect answer, thank you

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