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How do changes in income affect the demand for a good?
Increases in income allow for more disposable income which increases spending and the demand for goods. Decreases in income conversely decreases disposable income which decreases spending.
Historically consumption spending in the US has?
increased as a percentage of income
Consumption spending that is at an independent level of income is know as?
Transitory
WHAT ARE three major flow in the economy?
production, income and spending.
What is it called when government spending does not exceed it income?
Balanced budget
What is for a plan for raising and spending money?
The word is budget. It means an estimate of income and expenditure for a set period of time.
Why is planned investment called an injection?
Planned investment is called an injection because it refers to new spending or investment that is added to the circular flow of income and expenditure in an economy. It injects additional income and spending into the economy, stimulating economic activity and potentially increasing aggregate demand. In contrast, unplanned changes in inventory levels are called leakages because they remove income and spending from the circular flow.
How do changes in income affect the demand for a good?
Increases in income allow for more disposable income which increases spending and the demand for goods. Decreases in income conversely decreases disposable income which decreases spending.
What can be removed from a budget if spending is higher than income?
Discretionary spending
What is a buget?
a spending plan
What is phrase that means the excess of government spending over income?
Deficit spending.
What is most easily be removed from a budget if spending is higher than income?
discretionary spending
Why should you track and record you spending and income?
We can do it
What is a plan of income and expenses?
A plan of income and expenses is an approach to building income and paying down expenses. Many people maintain a plan for their income and expenses without realizing it.
A is a plan for spending money.?
budget
What type of software could be used for each what calculating household income and spending?
What type of software could be used for each of the followingcalculating household income and spending?
Both the increased spending by the national government and the nationally imposed income tax?
Both the increased spending by the national government and the nationally imposed income tax
