Term
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Definition
| The total market value of all final goods and services produced annually within the boundries of the U.S. |
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Term
| adding up all that was spent to buy total output in a certain year. |
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Definition
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Term
| Four Categories of spending |
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Definition
| Personal Cumsumption Expenditures (c), Gross Private Domestic Investment (Ig), Government Purchases (G), Net Exports (Xn) |
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Term
| Personal Consumption Expenditures (C) |
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Definition
| Expenditures by households for durable goods, nondurable goods, and services. |
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Term
| Gross Private Investment (Ig) |
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Definition
| Expenditures for newly produced capital goods (such as plant and equipment) and for additions to inventories |
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Term
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Definition
| Government expenditures on final goods, services, and social capital. |
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Term
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Definition
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