Study your flashcards anywhere!

Download the official Cram app for free >

  • Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off

How to study your flashcards.

Right/Left arrow keys: Navigate between flashcards.right arrow keyleft arrow key

Up/Down arrow keys: Flip the card between the front and back.down keyup key

H key: Show hint (3rd side).h key

A key: Read text to speech.a key


Play button


Play button




Click to flip

8 Cards in this Set

  • Front
  • Back
  • 3rd side (hint)
The the table "Employment Output, and Income"; how many calculations are required?
How many sets of values need to be compared?
The the table "Employment Output, and Income"; how do you come up with Aggregate Expendatures?
The the table "Employment Output, and Income"; how do you come up with UNPLANNED changes in inventory?
(GDP=DI) - (C+Ig)
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")
If I have (C) of 341 and (Ig) of 34, what is the aggregate expenditure?
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