The Great Recession of 2007-2009 altered the prior behavior of consumers in the economy by
A)shifting the consumption schedule up.
B)shifting the consumption schedule down.
C)shifting the saving schedule down.
D)moving the economy down along a stable consumption schedule.

Question

Quizplus · Accepted Answer

The Great Recession led to decreased consumer confidence and spending, causing the consumption schedule to shift down as people saved more and spent less.

The Great Recession of 2007-2009 Altered the Prior Behavior of Consumers