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Duplicate of Supply, Demand and Equilibrium Review Flashcards | StudBud
Duplicate of Supply, Demand and Equilibrium Review
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What is the income effect on demand?
A
As income decreases, demand will increase out of desperation
B
As income increases, demand for luxury goods goes up
C
As income changes, demand will remain the same
D
As income increases, demand usually decreases due to savings
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