Suppose that current income falls. What is the most likely impact on current consumption and private savings? both current consumption and private savings RISES. current consumption RISES, and private savings FALLS. current consumption FALLS, and private savings RISES. both current consumption and private savings FALLS.Which of the following is true when the Output Market (i.e. goods/service market) is in equilibrium (for closed economy)? Y = Cd + Id + G Sd = Id - C Y = Cd + Id + Sd Y - T - Cd = Id