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For each situation below, state whether it is an example of the income effect changing quantity demanded or an example of a change in income
For each situation below, state whether it is an example of the income effect changing quantity demanded or an example of a change in income shifting demand. d. An increase in the price of game consoles decreases sales, as fewer people can afford them
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Macroeconomics Principles And Policy
Authors: William J. Baumol, Alan S. Blinder
11th Edition
0324586213, 978-0324586213
