Related to the Economics in Practice on p. 476. When society as a whole saves more, the result is a drop in income but no increased saving.

Name: Related to the Economics in Practice on p. 476. When society as a whole saves more, the result is a drop in income but no increased saving.
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This statement refers to the "paradox of thrift," where increased saving leads to decreased aggregate demand, reducing income and thus offsetting the initial increase in savings.

Related to the Economics in Practice on P