Which of the following is likely to shift the consumption schedule downwards?
1. Expectations of a fall in interest rates
2. Consumer prices are expected to fall
3. Currently less stock of durable goods in the possession of consumers
4. The expectation of a future rise in the consumer price index
1
Expert's answer
2020-04-20T09:55:33-0400
Which of the following is likely to shift the consumption schedule downwards?
4. The expectation of a future rise in the consumer price index
When consumers expect economic conditions to worsen, they will reduce their consumption.
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