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3 cards from this section. Quick, good the night before a test.
What does the Expenditure Method calculate?
Think about what kind of spending is counted.
List the four components of the Expenditure Method.
Recall the parts we discussed in class.
What is the primary focus of the Expenditure Method?
Think about what method we are discussing.
True or False: Government expenditure is included in the Expenditure Method.
Recall if government spending counts as expenditure.
A country has $8000 in consumption, $2000 in investment, $1500 in government spending, and $1000 in imports with $3000 in exports. Calculate the National Income and explain what the result indicates about the economy.
Focus on the formula and ensure to track exports minus imports correctly.
If government spending increases by 20% while all other components remain constant, calculate how this affects the National Income. Discuss the potential economic implications.
Consider the impact of the government as a direct contributor to the economy.
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