A decline in disposable income:
A)increases consumption by moving upward along a specific consumption schedule.
B)decreases consumption because it shifts the consumption schedule downward.
C)decreases consumption by moving downward along a specific consumption schedule.
D)increases consumption because it shifts the consumption schedule upward.
Answer:C
A decline in disposable income:
A)increases consumption by moving upward along a specific consumption schedule. B)decreases consumption because it shifts the consumption schedule downward. C)decreases consumption by moving downward along a specific consumption schedule. D)increases consumption because it shifts the consumption schedule upward.