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Social Science
Economics
macroeconomics unit 6
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savings-investment spending identity
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savings and investment spending are always equal for the economy as a whole.
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Terms in this set (65)
savings-investment spending identity
savings and investment spending are always equal for the economy as a whole.
budget surplus
the difference between tax revenue and government spending when tax revenue exceeds government spending.
budget deficit
the difference between tax revenue and government spending when government spending exceeds tax revenue.
budget balance
the difference between tax revenue and government spending.
national savings
the sum of private savings and the budget balance, is the total amount of savings generated within the economy.