In Germany, expected future income increased during 2010. This increase led to
A) a downward shift of the consumption function.
B) an upward shift of the consumption function.
C) a movement upward along the consumption function.
D) no movement along the consumption function and no shift of the consumption function.
E) a movement downward along the consumption function.
B
Economics
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Refer to Figure 3-2. An increase in the price of the product would be represented by a movement from
A) A to B. B) B to A. C) S1 to S2. D) S2 to S1.
Economics
The change in the quantity demanded of a good resulting from a change in relative price with the level of satisfaction held constant is called the ________ effect
A) Giffen B) real price C) income D) substitution
Economics