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 a decrease in consumer confidence, causing a shift in the consumption schedule downward as consumers became more cautious with their spending.

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