Which of the following will cause the consumption schedule to shift upward?
a) an increase in the amount of consumer indebtedness
b) a reduction in the wealth or assets held by consumers
c) an expectation in future declines in the consumer price index
d) an expectation of future shortages of essential consumer goods
e) a growing belief that personal income will decline in the future
Answer: d) an expectation of future shortages of essential consumer goods
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