Since 1970, U.S. consumption function has generally shifted ________ because of ________.
A. upward; higher expected future income and rising wealth
B. upward; higher real interest rates
C. downward; higher real interest rates
D. downward; falling wealth
Answer:A
Since 1970, U.S. consumption function has generally shifted ________ because of ________.
A. upward; higher expected future income and rising wealth B. upward; higher real interest rates C. downward; higher real interest rates D. downward; falling wealth