All Else Equal, If Income Continues to Remain Flat, the Only

question 137

Multiple Choice

All else equal, if income continues to remain flat, the only way for consumer spending to increase is for personal savings to

• A)increase.
• B)decrease.
• C)remain unchanged.
• D)remain flat.

---

Definitions:

John Wesley

An English cleric, theologian, and evangelist who was a leader of the Methodist movement in the 18th century, emphasizing a methodical approach to religious study and practice.

Methodism

A group of historically related denominations of Protestant Christianity which derive their inspiration from the life and teachings of John Wesley.

Spiritual Awakening

A profound realization or enlightenment that an individual experiences, leading to a deeper understanding of life and one's place in the universe.

Pietism

A movement within Lutheranism that emerged in the 17th century, focusing on personal faith, the need for a born-again experience, and the importance of living a Christian life rather than merely adhering to doctrine.