Question

What changes take place in the economy when planned spending is less than planned output?

Answer 1

Nothing happens because those things are planned. Something will happend after those thing will come into reality. After that it will figure out  will you become wealthier or poorer.

Answer 2

When planned spending is less than planned output, the economy will experience a recession. This occurs because there is not enough demand for the goods and services that are being produced. This leads to businesses reducing production, which in turn leads to lower employment and wages. As a result, consumer spending decreases, leading to further reductions in production and employment. This can cause a downward spiral in the economy, as businesses and households reduce spending, leading to further reductions in output and employment.