An interesting paradox called the “Paradox of Thrift” arises when households become concern about their future and attempt to increase their saving. As a consequence of such action the overall economy will suffer. Explain. Do you agree with this assessment?
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USE BOOK BELOW FOR REFERENCE AND ASSISTANCE
BOOK REFERENCE::: PRINCIPLES OF MACROECONOMICS, volume 1.0 by Rittenberg and Tregarthen