If the Consumption Schedule Shifts Downward, and the Shift Was

question 5

Multiple Choice

If the consumption schedule shifts downward, and the shift was not caused by a tax change, then the saving schedule:

• A) May shift either upward or downward
• B) Will shift downward
• C) Will shift upward
• D) Will not shift

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Definitions:

Pumpkins

A type of squash plant that produces large, round, orange fruits associated with fall and Halloween decorations.

Constant Marginal Cost

A situation where the cost of producing one additional unit of a good remains the same regardless of the level of production.

Cournot Duopolists

Firms in a duopoly market structure who compete on the basis of quantity produced, as modeled by Antoine Cournot.

Demand Curve

A graph depicting the relationship between the quantity of a good that consumers are willing to buy and the price of the good.