If every body in the US stayed home for one day and didn't spend a penny what would happen to the economy?

Answer 1

Stabilizing economic variables to allow for a textbook study of this, we would find that the economy would flat line.

However, this scenario is very improbable since the economic variables are too many --- American's are spending unconsciously. We spend money when we flush toilets, turn on the lights/computer, use food from our pantry (yes, this is dipping into our savings, and we'd replenish later). In short, we'd have to be in a comatose state (the whole nation) to truly see the flat line economy --- further, some of our equipment like nuclear plants may be harmed if no one attended to them during a dormant period thereby causing a negative impact on the economy.

A scenario where we could imagine this to truly happen would be most similar to the Disney movie, "Sleeping Beauty" where the three fairies put the whole village to sleep. However, in today's culture, the fairies would have to turn off all stuff to make this happen.

Answer 2

This is close to what happens on Christmas and Thanksgiving every year. People spend before and after the money that they do not spend on the Holiday. The loss of labor from people not working would be 1/250 of GDP if you assume that the day off does not substitute for other time off.

Answer 3

Gaw!!!! Aaarrrgh! Why do you have to ask this question? To make all of us who are greedy pissed of or something? If this happens, some of us may just jump off the ten foot building. Good enough, yes?

Answer 4

GDP growth would be about .25 percentage points less than would otherwise be the case. e.g., maybe the economy would grow 2.75% instead of 3.0%.

Answer 5

nothing much because sooner or later everyone is going to need something and they are going to buy it.