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Material Type: Notes; Class: MACROECONOMICS; Subject: Social Sciences; University: Fashion Institute of Technology; Term: Fall 2008;
Typology: Study notes
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Pages 38-41, 75-76, and 114-
Patrick Yanez
Is there a model that that shows the
bones
system
of capitalism?
Patrick Yanez
HOUSEHOLDSHOUSEHOLDS
Patrick Yanez
Circular Flow
Income (Y)ResourcesOutput (O)
HOUSEHOLDS
FIRMS
Expenditures (E)
Savings (S)
Investments (I)
I N
L
g
( )
( )
J E C T
E A K A
I O N S
G E S
SPENDING (G)
TAXES (T)
IMPORTS (X)
EXPORTS (M)
Patrick Yanez
Saving (S)
Investment (I)
g ( )
Taxes (T)Imports (M)
( )
Gov. Spending (G)Exports (X)
Imports (M)
Exports (X)
Patrick Yanez
Saving (S)Taxes (T)
Investment (I)Gov. Spending (G)
LEAKAGESLEAKAGES
INJECTIONSINJECTIONS
Imports (M)
Exports (X)
Disequilibrium
q
Total Leakages
Total Injections
S + T + M
≠
I + G + X
g
j
S + T + M
≠
I
Patrick Yanez