If the Price Level Increases, We Would Expect Consumers to

question 98

Multiple Choice

If the price level increases, we would expect consumers to

• A)raise their consumption functions.
• B)move downward along their consumption functions.
• C)lower their consumption functions.
• D)move upward along their consumption functions.

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Definitions:

Hazard

A potential source of danger or harm, often used in the context of natural disasters or risks to human health and safety.

Damaged

Adversely affected by force or by the introduction of impairments to the original condition; can refer to objects, structures, or living tissue.

Flattop Hill

describes a hill or mountain with a relatively flat top, as opposed to being sharply pointed.

Slope Failure

A general term for the downward movement of rock, soil, and debris on a slope due to gravity, often triggered by saturation, earthquakes, or erosion.