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10 cards from this deck
Flow of new output produced by economy in a time period
National income = National output = National expenditure
Real adjusts for prices; nominal includes inflation effects
Saving (S), Taxation (T), Imports (M)
Investment (I), Government spending (G), Exports (X)
S+T+M=I+G+XS + T + M = I + G + XS+T+M=I+G+X
Level where withdrawals equal injections
Withdrawals exceed injections
Economy engaging in international trade
Firms' planned spending on capital goods
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