Refer to the Given Graph

question 94

Multiple Choice

Refer to the given graph. A shift of the consumption schedule from C2 to C1 might be caused by a(n)

• A) increase in real GDP.
• B) reverse wealth effect, caused by a decrease in stock market prices.
• C) decrease in income tax rates.
• D) decrease in saving.

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Definitions:

Defective Condition

A condition that makes a product unreasonably dangerous to the consumer, user, or property. See product liability.

Unreasonably Dangerous

This term describes a product or condition that poses a significant risk of injury to individuals under normal use or foreseeable misuse, beyond what would be expected by the ordinary consumer.

Fair Credit Billing Act

A United States federal law designed to protect consumers from unfair billing practices and to provide a mechanism for addressing billing errors in "open-end" credit accounts, such as credit card or charge card accounts.

Billing Disputes

Conflicts between customers and service providers over charges, fees, or the accuracy of accounts receivable.