Imports are goods and services produced in other countries that are bought by residents or businesses within a
Tag: open economy multiplier
exports (economics)
Exports are goods and services produced in one country and sold to buyers in other countries, such as
average propensity to import (apm)
The average propensity to import (APM) is the percentage of a nation’s total income that is spent on
open economy multiplier
The open economy multiplier calculates how much a change in initial spending will increase the total national income