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ACTUAL INVESTMENT: Investment expenditures that the business sector actual undertakes during a given time period, including both planned investment and any unplanned inventory changes. This is a critical component of Keynesian economics and the analysis of macroeconomic equilibrium, which occurs when actual investment is equal to planned investment. The difference between planned and actual investment is unplanned investment, which is inventory changes caused by a difference between aggregate expenditures and aggregate output. Should actual and planned investment differ, then aggregate expenditures are not equal to aggregate output, and the macroeconomy is not in equilibrium.
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Lesson 10: Gross Domestic Product | Unit 4: Measuring Income
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Page: 22 of 25
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In this unit, you should have learned something about:- The three income measures, national income (NI), personal income (PI) and disposable income (DI).
- Alternative ways of calculating national income--the sum of factor payments (NI = W + I + R + P + PI), adjusting GDP (NI = GDP - CCA - IBT + NFFI), and adjusting NDP (NI = NDP - IBT + NFFI).
- Income earned but not received (IEBNR), including Social Security taxes, corporate profit taxes, and undistributed corporate profits.4. Income received but not earned (IRBNE), including Social Security benefits, welfare payments, and unemployment compensation.
- Deriving personal income from national income (PI = NI - IEBNR + IRBNE).
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INFLATIONARY EXPECTATIONS, AGGREGATE EXPENDITURES DETERMINANT One of several specific aggregate expenditures determinants assumed constant when the aggregate expenditures line is constructed, and that shifts the aggregate expenditures line when it changes. An increase in inflationary expectations causes an increase (upward shift) of the aggregate expenditures line. A decrease in inflationary expectations causes a decrease (downward shift) of the aggregate expenditures line. Other notable aggregate expenditures determinants include interest rates, federal deficit, consumer confidence, and exchange rates.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time browsing through a long list of dot com websites trying to buy either a birthday gift for your grandmother or a T-shirt commemorating yesterday. Be on the lookout for defective microphones.
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This isn't me! What am I?
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One of the largest markets for gold in the United States is the manufacturing of class rings.
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"Do what you feel in your heart to be right ‚ for you'll be criticized anyway. You'll be damned if you do and damned if you don't. " -- Eleanor Roosevelt, first lady
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MLE
Maximum Likelihood Estimator
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