=+2. When one person saves more, that persons wealth is increased, meaning that he or she can

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=+2. When one person saves more, that person’s wealth is increased, meaning that he or she can consume more in the future. But when everyone saves more, everyone’s income falls, meaning that everyone must consume less today.

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Economics

ISBN: 9781319066604

5th Edition

Authors: Robin Krugman, Paul Wells

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