Expectations of large increases in income lead to lower levels of consumption.

Name: Expectations of large increases in income lead to lower levels of consumption.
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Question

Quizplus · Accepted Answer

This statement is not accurate. Generally, people tend to increase their consumption when their income increases. However, there may be individual factors, such as saving for long-term goals or concerns about economic stability, that affect an individual's consumption choices.

Expectations of Large Increases in Income Lead to Lower Levels