If the Price Level Increases, We Would Expect Consumers to

question 98

Multiple Choice

If the price level increases, we would expect consumers to

• A)raise their consumption functions.
• B)move downward along their consumption functions.
• C)lower their consumption functions.
• D)move upward along their consumption functions.

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Definitions:

Opinions

Personal views, beliefs, or judgments not necessarily based on facts or knowledge.

Judgments

involve making decisions or forming opinions after considering the relevant facts or evidence.

Internal Locus

pertains to the belief that one's actions are the result of personal choices and efforts.

Plain Unlucky

An expression describing a situation or outcome that is unfavorable and occurred by chance, without any specific cause.