Question
If the price of a normal good falls, the income effect will result in households buying less of the good and the substitution effect will
If the price of a normal good falls, the income effect will result in households buying less of the good and the substitution effect will result in households buying more of the good.
Select one:
a.FALSE
b.TRUE
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Econometric Analysis Of Cross Section And Panel Data
Authors: Jeffrey M Wooldridge, J M Wooldridge
2nd Edition
0262232588, 9780262232586
