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NET-EXPORT EFFECT: A change in aggregate expenditures on real production, especially net exports through the foreign sector, that results because a change in the price level alters the relative prices of exports and imports. The net-export effect, also termed the international-substitution effect, is one of three effects underlying the negative slope of the aggregate demand curve associated with a movement along the aggregate demand curve and a change in aggregate expenditures. The other two are real-balance effect and interest-rate effect.
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Lesson 10: Gross Domestic Product | Unit 3: Two Views of GDP
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Page: 17 of 25
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In this unit, you should have learned something about:- GDP can be measured in two different ways, from the demand or expenditure side and from the supply or resource side of the economy.
- From the expenditure side, the four sectors of the economy buy ALL current economic production and when aggregated give us GDP. This is summarized by the formula: GDP = C + I + G + (X-M).
- The calculation of GDP from the resource side of the economy is based on the fact that the revenue received for the sale of GDP is paid to or claimed by a factor of production.
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AUTOMATIC TRANSFER SERVICE ACCOUNTS Deposit accounts offered by commercial banks, credit unions, savings and loan associations, and mutual savings banks that automatically transfer funds from interest-paying savings account to checking accounts when needed to process checks or to maintain minimum balances. Automatic transfer service (ATS) accounts effectively function as interest-paying checking accounts and are considered as one type of checkable deposits. Other checkable deposits are demand deposits (standard checking accounts), negotiable order of withdrawal (NOW) accounts, and share draft accounts.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale looking to buy either a bookshelf that will fit in your closet or a birthday greeting card for your grandfather. Be on the lookout for mail order catalogs with hidden messages.
Your Complete Scope
This isn't me! What am I?
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
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"Old age isn't so bad when you consider the alternative. " -- Cato, Roman orator
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PPF
Production Possibilities Frontier
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