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Macro economics
how the economy works
Flow of income
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Created by
Charlie Houlston
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Cards (6)
what is the circular flow of income
shows how
money
moves from
firms
and
households
what are the two ways money flows
firms
pay
household
wages
households
pay
firms
with
purchases
what is true about the speed of transfer
the
faster
the
transactions
the
greater
the
amount
of
economic
activity
what are the 3 injections
-government
spending
-investment
-exports
what are the 3 leakages
-taxes
-imports
-savings
how can injections and leakages be used
by encouraging or discouraging each one you can control the speed of the economy
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