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10 Cards in this Set
- Front
- Back
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consumption function?
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relationship b/t Consumption and income
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Marginal propensity to consume?
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fraction of change in income thats spent on consumption
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MPS?
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fraction of change in income thats saved
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saving function?
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relationship b/t saving and income
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net wealth?
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value of assets - liabilities
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autonomous?
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"independent" from income
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government purchase function?
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b/t gov purchases and econ income
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net exports function?
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relationship b/t net exports and the economy's income
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planned investment?
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amt of investment that firms plan to undertake in 1yr
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actual investment?
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amt investment actually undertaken = planned investment + unplanned changes
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