Shifts of the Aggregate Consumption FunctionPanel (a) illustrates the effect of an increase in expected aggregate future disposable income. Consumers will spend more at every given level of aggregate current disposable income, YD. As a result, the initial aggregate consumption function CF1, with aggregate autonomous consumer spending A1, shifts up to a new position at CF2 with aggregate autonomous consumer spending A2. An increase in aggregate wealth will also shift the aggregate consumption function up. Panel (b), by contrast, illustrates the effect of a reduction in expected aggregate future disposable income. Consumers will spend less at every given level of aggregate current disposable income, YD. Consequently, the initial aggregate consumption function CF1, with aggregate autonomous consumer spending A1, shifts down to a new position at CF2 with aggregate autonomous consumer spending A2. A reduction in aggregate wealth will have the same effect.