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ECONOMY: The system of production, distribution, and consumption of goods and services that a society uses to address the problem of scarcity. The essential task of an economy is to transform resources into useful goods and services (the act of production), then distribute or allocate these products to useful ends (the act of consumption). Virtually all economies accomplish this task through a combination of decisions made through voluntary market exchanges and involuntary government rules and regulations.
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FOUR-SECTOR INJECTIONS-LEAKAGES MODEL: A model used to identify equilibrium in Keynesian economics based on injections (investment, government purchases, and exports) and leakages (saving, taxes, and imports) for all four sectors (household, business, government, and foreign). Equilibrium is achieved at the intersection of the S + T + M line, and I + G + X line. See also | injections-leakages model | S-I model | Keynesian economics | Keynesian equilibrium | saving line | investment line | injection | leakage | household sector | business sector | government sector | foreign sector | four-sector Keynesian model | two-sector injections-leakages model | three-sector injections-leakages model |
Recommended Citation:FOUR-SECTOR INJECTIONS-LEAKAGES MODEL, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: April 16, 2024].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: four-sector injections-leakages model
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KEYNESIAN MODEL A macroeconomic model based on the principles of Keynesian economics that is used to identify the equilibrium level of, and analyze disruptions to, aggregate production and income. This model identifies equilibrium aggregate production and income as the intersection of the aggregate expenditures line and the 45-degree line. The Keynesian model comes in three basic variations designated by the number of macroeconomic sectors included--two-sector, three-sector, and four sector. The Keynesian model is also commonly presented in the form of injections and leakages in addition to the standard aggregate expenditures format. This model is used to analyze several important topics and issues, including multipliers, business cycles, fiscal policy, and monetary policy.
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WHITE GULLIBON
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Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors wanting to buy either a small, foam rubber football or an instructional DVD on learning to the play the oboe. Be on the lookout for celebrities who speak directly to you through your television.
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A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court!
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"Recipe for success. Study while others are sleeping; work while others are loafing, prepare while others are playing, and dream while others are wishing." -- William A. Ward
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BAE
Bureau of Agricultural Economics
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