Which of the Following Events Would Produce an Upward Shift

question 86

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) an increase in the price level

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Definitions:

Production Budget

An estimate of the total cost of production, including raw materials, labor, and overhead costs, for a specific period.

Finished Goods Inventory

The stock of completed products available for sale.

Unit Sales

The total quantity of an inventory item that a business sells to its customers within a specific period.

Credit Sales

Sales made on credit, which allow the buyer to pay the seller at a later date, typically recorded as accounts receivable.