If Consumers Expect Prices to Rise and Shortages to Occur

question 10

Multiple Choice

If consumers expect prices to rise and shortages to occur in the future, then there will be a shift

• A)upward of both the consumption and saving schedules.
• B)downward of both the consumption and saving schedules.
• C)of the consumption schedule upward and of the saving schedule downward.
• D)of the consumption schedule downward and the saving schedule upward.

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Definitions:

Celiac Artery

A major artery that supplies oxygenated blood to the liver, stomach, abdominal esophagus, spleen, and the superior half of both the duodenum and the pancreas.

Stomach

A hollow organ in the gastrointestinal tract that digests food with acidic gastric juices before it moves into the intestines.

Liver

A large, vital organ in the body responsible for processes such as detoxification, metabolism, and the production of biochemicals necessary for digestion.

Thoracic Aorta

The section of the aorta that passes through the thoracic cavity, supplying oxygen-rich blood to the chest and upper abdominal area.