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November 2, 2024 

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LEAKAGE: A non-consumption uses of income, including saving, taxes, and imports. Leakages are combined with injections in the injection-leakage model used to identify equilibrium aggregate output in Keynesian economics. The notion of leakage is best viewed through the circular flow, in which saving, taxes, and imports are "leaked" out of the main flow between output, factor payments, national income, and consumption.

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AUTONOMOUS GOVERNMENT PURCHASES: Government purchases that are unrelated to income or production (especially national income or gross national product). These are government purchases that would occur even if national income was zero. Autonomous government purchases are graphically depicted as the vertical intercept of the government purchases line relating government purchases to national income. Changes in autonomous government purchases, along with changes in other autonomous expenditures, are what trigger the multiplier effect.

     See also | government purchases | national income | gross domestic product | government purchases line | autonomous consumption | autonomous expenditure | multiplier | induced government purchases | fiscal policy |


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AUTONOMOUS GOVERNMENT PURCHASES, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: November 2, 2024].


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SUPPLY DECREASE

A decrease in the willingness and ability of sellers to sell a good at the existing price, illustrated by a leftward shift of the supply curve. A decrease in supply is caused by a change in a supply determinant and results in a decrease in equilibrium quantity and an increase in equilibrium price. A supply decrease is one of two supply shocks to the market. The other is a supply increase.

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