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### 8 Cards in this Set

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 The the table "Employment Output, and Income"; how many calculations are required? Two How many sets of values need to be compared? The the table "Employment Output, and Income"; how do you come up with Aggregate Expendatures? (C+Ig) Formulation The the table "Employment Output, and Income"; how do you come up with UNPLANNED changes in inventory? (GDP=DI) - (C+Ig) OR GDP - (C+Ig) = Unplanned Real Domestic Output If I have a (GDP) of 575 and a (C+Ig) of 555, what is the UNPLANNED amount? (table "Employment Output, and Income") 20 If I have (C) of 341 and (Ig) of 34, what is the aggregate expenditure? 375 What is unplanned investment? When firms cannot sell goods they invested in. The keep unplanned inventories. What is planned investment? At equilibrium, Savings and planned investment are equal. Therefore there are no unplanned changes in inventory. What is a lump sum tax? A tax of constant amount, or more precisely, a tax yielding the same amount of tax revenue at each level of GDP