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ECO201 MIDTERM REVIEW

Teacher: Professor Glenda Evans
Horizontales
When current spending is less than current incomes
Situations in which firms expect one thing to happen but then something else happens
When resources are devoted toward increasing future output
The market value of the firm's output minus the value of inputs bought from other firms
The type of investment that refers to the creation and expansion of business enterprises
The consumption of fixed capital in each year's production
The situation where output and living standards decline
Measurement of the amount of after-tax income received by households
Verticales
An increase in the overall level of prices
Principal source of savings in an economy
Measures the value of final goods and services produced within the borders of a given country during a given time period using current prices
A comparison of the current price of a market basket to a fixed point of reference
The measure used in the GDP concept that accounts for society's valuation of the relative worth of goods
Exports less imports
Measures the value of final goods and services produced within the borders of a given country during a given time period corrected for changing prices
The market value of all final goods and services produced in an economy in a given year