What happens in the simple Keynesian model if households expect lower income in the future and decide to save more today? A. The overall increase in income, output, and savings, as a result of households' move to increase savings, is known as the paradox of thrift. B. Output, income and savings will not change. Economists refer to this as the paradox of thrift. C. The decrease in consumption shifts the spending curve up, resulting in a higher level of output, income, and savings. Economists refer to the intended increase in savings that results in a decrease in overall savings as the paradox of thrift. D. Output and income decrease as a result of the increase in consumption. In addition, savings will increase when income decreases. Economists refer to this as the paradox of thrift. E. Output and income decrease as a result of the decrease in consumption. Savings will also decrease when income decreases. Economists refer to this as the paradox of thrift