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Economics (923)
ECN 204 (282)
Amy Peng (21)
Chapter 9

ECN 204 Chapter 9 Notes.docx

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ECN 204
Amy Peng

ECN 204 Chapter 9 Notes The Aggregate Expenditures Model Consumption and SavingConsumption and Investment Schedules o In the private closed economy the two components of aggregate expenditures are consumption C and gross investment I o Planned Investment is the amount that firms plan or intend to invest o The Investment Schedule is a curve or schedule that shows the amounts firms plan to invest at various possible values of real GDPCalculating GDP o Aggregate ExpendituresAggregate Expenditures Schedule is a schedule or curve that shows the total amount spent for final goods and services at different levels of GDP o Equilibrium GDPThe level at which the total quantity of goods produced GDP equals the total quantity of goods purchased o Graphical AnalysisAny point on the 45 degree line the value of what is being measured on the horizontal axis is equal to the value of what is being measured on the vertical axisOther Features of Equilibrium GDP o Saving Equals Planned InvestmentSav
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