Chapter 5 Flashcards
1
Q
What are on the x and y axes of an income expansion path?
A
consumption of good x and consumption of good y
2
Q
What are the x and y axes of an Engel curve?
A
Income and consumption of a good
What are on the x and y axes of an income expansion path?
consumption of good x and consumption of good y
What are the x and y axes of an Engel curve?
Income and consumption of a good