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13 Cards in this Set
- Front
- Back
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The amount business firms intend to invest
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Planned investment
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GDP
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C + Ig + X + G = Sa + M + T
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C
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Consumption
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None at equilibrium GDP
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unplanned changes in inventories
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Ig
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Investment
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A tax of a constant amount or, more precisely, a tax yielding the same amount of tax revenue at each level of GDP
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Lump-sum tax
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X
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Exports
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G
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Government Spending
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Sa
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After tax savings
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M
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Imports
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T
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Taxes
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The amount by which aggregate expenditures at the full-employement GDP fall short of those require to achieve full-employment GDP
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Recessionary expenditure gap
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The amount by which an economy's aggregate expenditures at the full-employement GDP exceed those just necessary to achieve the full-employment level of GDP
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Inflationary expenditure gap
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