Match the symbol from the expanded circular flows model to its description 1. In
ID: 1098744 • Letter: M
Question
Match the symbol from the expanded circular flows model to its description
1. Income after taxation
2. Used to purchase things that satisfy current wants
3. Used to purchase capital goods
4. Used to purchase public goods and service
5. The difference between Exports and Imports
6. The opportunity cost of this use of income is fewer current wants satisfied
7. American spending on foreign output
8. Foreign Spending on US output
9. The Quantity demanded of GDP
10. Macroeconomics equivalent of surplus or shortage
11. One way to measure GDP is the measure this flow
Symbols to match: Yd, Y, I, G, X(net), C, M, X, I(unplanned), S, Planned AE
Explanation / Answer
You can find all the answers in the expanded circular flow chart http://wps.aw.com/aw_miller_econtoday_13/29/7556/1934440.cw/content/index.html, the only symbol missing is the planned AE which is the quantity demanded of GDP, Y is the national income which is one way to measure GDP. Hope this helps, comment if you still need more help.