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BUDGET LINE: The alternative combinations of two different goods that can be purchased with a given income and given prices of the two goods. This budget constraint, also termed budget constraint, plays a major role in the analysis of consumer demand using indifference curve analysis. Indifference curves represents the "willingness" aspect of consumer demand, the budget line captures the "ability". One key consumer demand topic is to analyze how consumer equilibrium is affected by changes in the price of one good. Then end result of this analysis is a demand curve. For more fascinating uses of the budget line and indifference curves, and consumer demand analysis, see income-consumption curve and price-consumption curve.

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INDUCED IMPORTS: Imports from the foreign sector that depend on domestic income or production (especially national income and gross domestic product). That is, changes in income induce changes in imports. Induced imports are measured by the marginal propensity to import (MPM) and are reflected by a positive slope of imports line. Induced imports are the reason for induced net exports, generating a negatively sloped net exports line. Autonomous net exports are due to a combination of autonomous exports and autonomous imports.

     See also | autonomous exports | net exports line | marginal propensity to import | induced expenditures | induced consumption | induced government purchases | induced investment | autonomous exports | autonomous net exports | slope, net exports line | intercept, net exports line | injections | leakages | Keynesian economics | circular flow | aggregate expenditures | imports | exports | imports | net exports of goods and services | macroeconomics | foreign sector | national income | gross domestic product | business cycles | aggregate expenditures | aggregate expenditures line | net exports determinants | Keynesian model | Keynesian equilibrium | injections-leakages model | aggregate demand | paradox of thrift | fiscal policy | multiplier |


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AGGREGATE DEMAND DETERMINANTS

An assortment of ceteris paribus factors other than the price level that affect aggregate demand, but which are assumed constant when the aggregate demand curve is constructed. Changes in any of the aggregate demand determinants cause the aggregate demand curve to shift. The specific ceteris paribus factors are commonly grouped by the four, broad expenditure categories--consumption expenditures, investment expenditures, government purchases, and net exports.

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