During an economic downturn, a single family decides to increase its savings by reducing its spending on non-essential goods. This is a rational decision for that family. What is the most likely consequence if a large majority of households in the economy make the same decision simultaneously?
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During an economic downturn, a single family decides to increase its savings by reducing its spending on non-essential goods. This is a rational decision for that family. What is the most likely consequence if a large majority of households in the economy make the same decision simultaneously?
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