27-3 In what direction will each of the following occurrences shift affect the c

Question

27-3 In what direction will each of the following occurrences shift affect the consumption and saving schedules, other things equal? a. A large increase in real estate values, including private homes. b. A sharp, sustained increase in stock prices. c. A 5-year increase in the minimum age for collecting Social Security benefits. d. An economy-wide expectation that a recession is over and that a robust expansion will occur. e. A substantial increase in household borrowing to finance auto purchases.

Explanation / Answer

c. A 5-year increase in the minimum age for collecting Social Security benefits.

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