disposable income
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aggregate income-taxes+transfer payments. aggregate income=real GDP,
so disposable income depends on aggregate income.
theoretical impact of income tax and capital income tax
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shifts supply of labor left, makes
changes in potential GDP
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increase in potential GDP increases both long-run aggregate supply and
short-run aggregate supply. this shifts both LAS curve rightward and SAS
curve rightward
potential GDP could increase for these reasons:
-increase in full-employment quantity of labor
-increase in quantity of capital
-advance in tech
changes in aggregate supply
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change in price level changes quantity of real GDP supplied, but aggregate
supply changes when an influence on production plans other than price
price level changes. (such as change in potential GDP and change in
money wage rate)
marginal propensity to consume?
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the fraction of change in disposable income that is spent on consumption.
change in consumption expenditure/change in disposable income
MPC=delta C/delta YD
what is gov debt?
Give this one a try later!
aggregate income-taxes+transfer payments. aggregate income=real GDP,
so disposable income depends on aggregate income.
theoretical impact of income tax and capital income tax
Give this one a try later!
shifts supply of labor left, makes
changes in potential GDP
, Give this one a try later!
increase in potential GDP increases both long-run aggregate supply and
short-run aggregate supply. this shifts both LAS curve rightward and SAS
curve rightward
potential GDP could increase for these reasons:
-increase in full-employment quantity of labor
-increase in quantity of capital
-advance in tech
changes in aggregate supply
Give this one a try later!
change in price level changes quantity of real GDP supplied, but aggregate
supply changes when an influence on production plans other than price
price level changes. (such as change in potential GDP and change in
money wage rate)
marginal propensity to consume?
Give this one a try later!
the fraction of change in disposable income that is spent on consumption.
change in consumption expenditure/change in disposable income
MPC=delta C/delta YD
what is gov debt?
