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Economics Chapter 28: The Aggregate Expenditures Model Flashcards

Economics Chapter 28: The Aggregate Expenditures Model

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860205783private closed economywithout international trade or government
860205784planned investmentthe amounts firms intend to invest
860205785equilibrium GDPC + I = GDP
860205786leakgesavings; withdraw of spending from the economy's circular flow of income and expenditures
860205787injectioninvestment; a spending to the capital good
860715827recessionary expenditure gapthe amount by which aggregate expenditures at the full-employment GDP fall short of those required to achieve the full-employment GDP
860715828inflationary expenditure gapthe amount by which aggregate expenditures at the full-employment GDP exceed those just necessary to to achieve the full-employment GDP
860715829lump sump taxa constant tax
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