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when consumers decide to increase household debt, this action will rev: 06 12 2018 multiple choice shift the consumption schedule upward. decrease the amount consumed along a stable consumption schedule. shift the consumption schedule downward. increase the amount consumed along a stable consumption schedule.

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The consumption schedule will move upward when customers choose to raise household debt.

What is House debt?

The sum of all debts held by members of a home is referred to as household debt. Along with mortgage loans, it also includes consumer debt.

Depending on the categories of debt involved, there are various ways to characterize household debt. Home mortgages, home equity loans, vehicle loans, school loans, and credit cards are examples of common debt categories. To gauge how indebted households are in relation to different income indicators, household debt can also be quantified across an economy.

Leading contributors to household debt include income, the working population, the unemployment rate, inflation, housing costs, and interest rates on loans.

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