Macro Exam 3

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13 Terms

1
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Unplanned Investment=

Y-AE

2
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equilibrium

Y=AE

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AE=

C+I+G+Xn

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S=

Yd-C

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C=

Ca+(MPC)(Yd)

6
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Macro equilibrium

I+G+X=S+T=M

7
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Spending withdrawals

savings, taxes, and imports

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Spending injections

investment, gov spending, and exports

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spending multiplier

1/(1-MPC)

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tax multiplier

-MPC/1-MPC

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Balanced Budget Multiplier

(deltaG=deltaT)=1

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deltaY=

Multiplier * delta(gov spending or taxes)

13
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Equilibrium Y=

[1/(1-MPC)][a+I+G+Xn-(MPC)T