Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
why is 2 a left shift and not an upward movement?
Expert Solution
Step 1: Reason behind the leftward shift in the savings level.
As per the given information it is stated that malaysians had started to save less post-pandemic because of the less wage earning, rising inflation which would have resulted in the rise in expenditure. Thus a fall in savings. Post-pandemic malaysians had started to spend on leisure and holidays and the savings level had fallen which resulted in the leftward shift in the level of savings.
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