Choose from the following terms in your answer:
expectations taxes wealth income
household debt interest rate
Keynesian economists think that _________the key determinant of consumption and spending.
Classical economists think that the higher the_______ , the more people will save, which means that they will consume less.
A person's _______about how much income he/she will earn in the future as well as future prices could shape how much he/she spends and saves today.
The More________ a person has, the less current consumption he/she undertakes.
A person's total income can be divided into three components: consumption, savings, and_________Savings, which is total income minus consumption and taxes, can be used to create more_____.