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19 Cards in this Set
- Front
- Back
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The excess of government spending over tax collections (G-T) equals the _____.
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Government budget surplus
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Excluding the international sector, GDP less consumption expenditures and government purchases of goods and services, or Y-C-G, equals ___.
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National saving
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In accounting, the debts that one owes are recorded as _____.
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Liabilities
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A decrease in the value of existing assets causes _____.
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Capital losses
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The tendency of government budget deficits to reduce investment spending is called ___.
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Crowding out
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Payments the government makes to the public for which it receives no current goods or services in return are ______.
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Transfer payments
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Private sector after-tax income minus it's consumption spending equals ______.
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Private saving
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The type of saving that is done for certain long-term objectives, such as retirement, or the purchase of a home, is _____.
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Life Cycle saving
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If public saving is positive, there is a ____.
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Government budget surplus
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Current income minus spending on current needs represents the ______ of an economic unit.
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Saving
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Saving done for the purpose of leaving an inheritance is_____.
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Bequest saving
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Net tax payments minus government purchases equals _____.
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Public saving
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Dividing the amount of saving by the amount of income equals the _____.
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Saving rate
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To protect against unexpected setbacks, people maintain _____.
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Precautionary savings.
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A measure that is defined per unit of time is a ___
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Flow
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The value of assets minus liabilities equals _____.
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Wealth
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In many cases, a flow equals the rate of change in a _____.
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Stock
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Anything of value that one owns is an _____.
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Asset
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If the value of existing assets increases, the owner has _____.
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Capital gains
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