Term
| national income and product accounts/national accounts |
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Definition
| Keep track of the flows of money between different sectors of the economy. |
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Term
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Definition
| A person or group of people who share income. |
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Term
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Definition
| An organization that produces goods and services for sale. |
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Definition
| Where goods and services are bought and sold. |
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Term
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Definition
| Where resources, especially capital and labor, are bought and sold. |
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Term
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Definition
| Household spending on goods and services. |
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Term
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Definition
| A share in the ownership of a company held by a shareholder. |
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Term
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Definition
| A loan in the form of an IOU that pays interest. |
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Term
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Definition
| Payments that the government makes to individuals without expecting a good or service in return. |
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Term
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Definition
| Equal to income plus government transfers minus taxes. Is the total amount of household income available to spend on consumption and to spend. |
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Term
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Definition
| Equal to disposable income minus consumer spending. Is disposable income that is not spent on consumption. |
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Term
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Definition
| The amount of funds borrowed by the government in the financial markets. |
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Term
| government purchases of goods and services |
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Definition
| Total expenditures on goods and services by federal, state, and local governments, |
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Term
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Definition
| Goods and services sold to other countries. |
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Term
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Definition
| Goods and services purchased from other countries, |
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Term
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Definition
| Stocks of goods and raw materials held to facilitate business operations. |
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Term
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Definition
| Spending on new productive physical capital, such as machinery and structures, and on changes in inventories. |
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Term
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Definition
| Goods and services sold to the final, or end, user. |
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Term
| gross domestic product (GDP) |
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Definition
| The total value of all final goods and services produced in the economy during a given year. |
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Term
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Definition
| The total spending on domestically produced final goods and services in the economy, The sum of consumer spending (C), investment spending (I), government purchases of goods and services (G), and exports minus imports (X-IM). |
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Term
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Definition
| The value of a producer's sales minus the value of its purchases of inputs. |
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Term
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Definition
| The difference between the value of exports and the value of imports (X-IM). |
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