Question
1. According to the Bureau of Economic Analysis, gross saving rose from $4,188.1 billion in 2021 to $4,657.5 billion in 2022. The increase in saving
1. According to the Bureau of Economic Analysis, gross saving rose from $4,188.1 billion in 2021 to $4,657.5 billion in 2022. The increase in saving did not, however, "devastate consumer spending." Consumption rose from $15,902.6 billion in 2021 to $17,357.2 billion in 2022. How can both saving and consumption rise from one year to the next?
Step by Step Solution
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Step: 1
The simultaneous increase in saving and consumption from one year to the next can be explained by se...
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Microeconomics
Authors: Paul Krugman, Robin Wells
3rd edition
978-1429283427, 1429283424, 978-1464104213, 1464104212, 978-1429283434
