WAEC - Economics (2011 - No. 38)
A fall in national output will necessitate
a rise in expenditure on imports
a rise in the level of savings
an increase in the consumption of expenditure
a rise in the standard of living
Пояснення
An economy's level of output occurs when all available resources are used efficiently. It equals the highest level of production an economy can sustain. A fall in the level of output will invariably lead to reduced consumption and high savings. When the people do not have products to spend their monies on, they will be forced to safe the leftover after consumption.