Should US consumers increase spending by more than the increase in personal income? Instruction: You could...

Should US consumers increase spending by more than the increase in personal income?
Instruction: You could use an example from your life or another example to relate to this topic.

Expert Solution

Consumer spend in form of to purchase good and services

goods in terms of personal spending while services in form of real estate medical insurence

spending of individual also depend on disposable income which means average income - tax

since US economy majorily depend on consumer spending which thrive the economy

Economist like John Meynard keynes explain spending is beneficial in short run while some favour saving is is more important

Rahul Sunny answered 2 years ago

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