1.The consumption function describes the relationship between consumption expenditures and the level of _________. 2. A decrease in consumer confidence will shift the consumption function _________...

1.The consumption function describes the relationship between consumption expenditures and the level of _________.

2. A decrease in consumer confidence will shift the consumption function _________ (upward/downward).

3. If housing prices fall, you would expect the consumption function to shift _________ (upward/downward).

4. Because the MPC is positive, the consumption function is _________ (upward/downward) sloping