What is the expenditure model?

The equilibrium level of real GDP is determined by the expenditure-output model, also known as the Keynesian cross diagram. output

What is the Keynesian income expenditure model?

John Maynard Keynes created the income expenditure model of economics to explain fluctuations in production of goods and services.

What is an income expenditure?

An income and expenditure account is an account showing the surplus or deficit of a non-trading concern, which involves matching incomes and expenses over a specified accounting period.

What is the Keynesian income expenditure model?

John Maynard Keynes created the income expenditure model of economics to explain fluctuations in production of goods and services.

Why is the income expenditure identity important?

Income-expenditure identity is important because it allows to confirm the values as the should match.

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