If USConsumers Become More Optimistic About Their Future Income and Wealth

question 160

True/False

If U.S.consumers become more optimistic about their future income and wealth, the consumption function will shift upward.

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Definitions:

Equally

With uniformity, without difference; being the same in quantity, size, degree, or value.

Individualistic

Pertaining to an outlook or philosophy that emphasizes the importance of the individual and their autonomous decision-making over collective goals.

Collectivistic

Describing cultures or societies that prioritize the group over the individual, often emphasizing community, cooperation, and interdependence.

Self-Esteem

An individual's subjective evaluation of their own worthiness and value.