Gdp Flashcards
Spending by Household on Goods and Services.
Consumption Spending:
the market value of all final goods and services in the economy
GDP
Spending by firms on capital goods such as machinery and equipment.
Investment Spending:
Includes all spending of the government.
Government Spending:
The economy as a whole
is
= GDP
= expenditures = income
The balance of trade shows that the imports are higher than exports.
trade deficit
The spending of firms for buying necessary capital such as machinery and equipment.
INVESTMENT
market value of all final goods and services in the economy.
Gdp
Spending by the households on goods and services.
Comsumption spendinh
It refers to goods we buy from another country.
imports
The type of government spending used for purchases such as ambulances for public hospitals and computers for schools.
. PUBLIC INVESTMENT SPENDING
This is an input provided by the households that is paid in the form of wages.
labor
The type of government spending used for payroll of government workers.
consumption expenditure
The balance of trade shows that the exports are higher than imports.
1
trade surplus
The factor payment paid by firms for capital.
interest
