Economic Perspectives

An introduction to U.S. macroeconomic policy issues, such as how we use monetary and fiscal policies to promote economic growth, low unemployment, and low inflation.

Showing posts with label substitution effect. Show all posts
Showing posts with label substitution effect. Show all posts
Tuesday, May 6, 2008

The Substitution Effect

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INSERT DIAGRAM HERE. The substitution effect refers to the increase in the consumption of a product as its price decreases because some con...
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JOHN BUCK
Jacksonville, Florida
I am a professor of economics at Jacksonville University, where I teach courses in introductory economics, comparative economic development, and globalization. I use this blog to keep in touch with my current and former students. Teachers and students at other schools, as well as others interested in economic issues, are welcome to use this resource.
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