Which of the Following Events Would Produce an Upward Shift

question 48

Multiple Choice

Which of the following events would produce an upward shift in the consumption function, other things being equal?

• A)An increase in consumer wealth.
• B)A decrease in consumer wealth.
• C)A decrease in autonomous consumption.
• D)None of these.

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Definitions:

Dispositional Influences

Refers to personality traits that influence behavior and actions in individuals.

Situational Influences

External factors that can affect an individual's behavior and decisions in a given context, such as social norms and environmental cues.

Self-Serving Bias

Self-serving bias is the common human tendency to attribute positive events to one's own character but attribute negative events to external factors, thereby protecting self-esteem.

Personal Credit

The ability of an individual to borrow money or access goods or services with the understanding that payment will be made in the future.