The So-Called Paradox of Thrift That Became Quite Obvious in the Great

question 204

Multiple Choice

The so-called Paradox of Thrift that became quite obvious in the Great Recession of 2007-2009 does not refer to which of the following?

• A)Saving may be virtuous for the individual, but it could be bad for the economy as a whole.
• B)Consumers becoming thriftier may help long-term growth but, ironically, reduces current output.
• C)In trying to spend less now, consumers will end up spending more later on.
• D)As individuals try to save more, the whole group may end up saving less as total income declines.

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Definitions:

Depleted Uranium

Uranium with a lower content of the fissile isotope U-235 than natural uranium, used in military projectiles and for shielding.

Nuclear Transmutation

The process by which the nucleus of one chemical element is changed into a nucleus of a different element, often by bombarding it with particles.

Pressurized Water Reactor

A type of nuclear reactor where water is used as both coolant and moderator, kept under high pressure to prevent it from boiling.

Boiling Water Reactor

A boiling water reactor is a type of nuclear reactor used for generating electricity in which water is allowed to boil in the reactor core, with the steam produced directly driving a turbine.