An Increase in the Wealth of Households, Other Things Remaining

question 57

Multiple Choice

An increase in the wealth of households, other things remaining the same, can result in ____ the consumption function.

• A) no effect on
• B) an upward shift in
• C) a movement to the left along
• D) a downward shift of

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Definitions:

Hypothesis

A proposed explanation for a phenomenon, often used as a basis for further investigation.

Metric System

is an international system of measurement based on the meter, kilogram, and second, among other units, used for scientific and everyday measurements.

Gram

A metric unit of mass equal to one thousandth of a kilogram.

Mass

A measure of the amount of matter in an object, often measured in kilograms or grams.