An Increase in Consumer Saving for Any Given Level of Income

question 127

Multiple Choice

An increase in consumer saving for any given level of income will shift the:

• A) LM curve upward and to the left.
• B) LM curve downward and to the right.
• C) IS curve downward and to the left.
• D) IS curve upward and to the right.

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Definitions:

Common Law

A legal system based on custom, court rulings, and precedent rather than statutory laws.

French System

Describes the legal system primarily used in France and countries formerly part of the French colonial empire, characterized by civil law principles.

Common Law Courts

Courts that decide cases based on common law, which consists of judicial precedents and statutes as opposed to statutory or regulatory laws.

Chancery Court

A specialized court dealing with matters of equity, such as trusts, estates, and guardianships, often distinct from courts of law.