Glossary Category: Macroeconomy - Page 5 - 3auk

equilibrium level of national income (A2)

The full employment level of national income is the total output produced when all available resources, especially labor,

Imports are goods and services produced in other countries that are bought by residents or businesses within a

Exports are goods and services produced in one country and sold to buyers in other countries, such as

Net exports represent the difference between the total value of a country’s exports (what it sells to other

The accelerator effect (also known as the accelerator coefficient or capital-output ratio) describes how changes in national income

Induced investment refers to the part of a company’s spending on equipment, buildings, and machinery that changes based

Autonomous investment refers to the amount of investment that happens regardless of a country’s income level. It is

The investment function describes the relationship between planned investment expenditure and factors like national income and the interest

Induced savings refers to the part of total savings that changes directly when national income changes. It represents