Answer:
Recession cause standard monetary and fiscal effects.
Explanation:
Recession impact all kinds of business, large and small,due to tightening credit conditions, slower, demand, and general fear and uncertainty.
Answer: Yes it is
Explanation:
The Permanent Income Hypothesis posits that human expenditure in the short term is based on the amount of income they expect to get as income over the long term.
If a person for instance, knows that they will receive a pay cut at the end of the year, they will probably spend less today to survive the pay cut.
Same goes for the worker in this scenario. They know that the amount they saved is all they have now and into the future so they are adjusting their expenses to ensure they survive on that saving.
Answer:
See complete solution in the picture attachment.
Explanation: