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Please answer the following and draw the graph. Blank 1: falls/rises Blank 2: upward sloping/inelastic/elastic Blank 3: falls/rises Blank 4: total consumer spending falls /

Please answer the following and draw the graph.

Blank 1: falls/rises

Blank 2: upward sloping/inelastic/elastic

Blank 3: falls/rises

Blank 4: total consumer spending falls / you cannot determine the change in total consumer spending / total consumer spending rises

Blank 5: True/False

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