Which of the following is/are true about paradox of thrift?
A. Paradox of thrift was popularized by J. M. Keynes.
B. It states that personal savings can be detrimental to overall economic growth.
C. It shows the relationship between output growth and rate of unemployment.
D. It shows the relationship between inflation and rate of interest.
E. It states that individuals saving during an economic recession leads to fall in aggregate demand.
Choose the correct answer from the option given below:
1
A, B, C only
2
B, C, D only
3
C, D, E only
4
A, B, E only