Illustrate on the following two graphs the impact of increased consumer confidence. What direction did (a) The
Question:
What direction did
(a) The consumption function shift?
(b) AD shift?
Transcribed Image Text:
C = a + bY 45° DISPOSABLE INCOME (OUTPUT) CONSUMPTION AS AD REAL OUTPUT PRICE LEVEL
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a upward b rightward Feedback An increase in consumer confidence impl...View the full answer
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Related Book For
The Macro Economy Today
ISBN: 978-1259291821
14th edition
Authors: Bradley R. Schiller, Karen Gebhardt
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