Which of the Following Will Not Tend to Shift the Consumption

question 122

Multiple Choice

Which of the following will not tend to shift the consumption schedule upward?

• A) a currently small stock of durable goods in the possession of consumers
• B) the expectation of a future decline in the consumer price index
• C) a currently low level of household debt
• D) the expectation of future shortages of essential consumer goods

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Definitions:

Product Demand

The desire and willingness of consumers to purchase a specific quantity of a good or service at a given price.

Price Elasticity

An estimation of the change in demanded quantity of a product in response to its price movements, signifying how prone consumers are to price changes.

Percentage Change

A mathematical calculation that shows how much a quantity has increased or decreased in comparison to its previous value, expressed as a percentage.