1. According to the Bureau of Economic Analysis, gross saving rose from $4,188.1 billion in 2021 to $4,657.5 billion in 2022. The increase in saving did not, however, "devastate consumer spending." Consumption rose from $15,902.6 billion in 2021 to $17,357.2 billion in 2022. How can both saving and consumption rise from one year to the next?

Answer rating: 100% (QA)

The simultaneous increase in saving and consumption from one year to the next can be explained by se... View the full answer