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For a normal good, a decrease in consumer income leads to: 

          For a normal good, a decrease in consumer income leads to:

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Principles of Economics
Principles of Economics
Gregory Mankiw 8th Edition
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For a normal good, a decrease in consumer income leads to:
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Transcript

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00:01 Hey guys and welcome to another economics tutorial where we're going to be talking about some of the basics of demand.
00:09 We're going to be looking specifically at the income effect in this example, which is one of the reasons we've talked about for why the demand curve is downward sloping.
00:20 So how does the income effect actually influence consumers ' behavior? so to talk about the income effect, what we need to do is we need to assume that your consumer's income is, constant.
00:34 It's not changing.
00:37 And then the next thing that happens is say the price for good, we'll say x increases.
00:47 Because their income is constant, they can buy less of good x now.
00:52 So say they could have bought two before...
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