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506880
Circular flow of income
Description
Macroeconomics
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a levels
economics-macro
economics-macro
Mind Map by
07nelvjose
, updated more than 1 year ago
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Created by
07nelvjose
over 10 years ago
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Resource summary
Circular flow of income
Increase in injections increase level of national income
Investments are referred as injections
Withdrawals reduce the size of the national income
Savings are referred as withdrawals
Savings are income induced
Meaning savings will increase as income increase and vice versa if income decreases
If withdrawals and injections equal then the economy is said to be in equilibrium
If injections are not equal to withdrawals then the economy is in disequilibrium
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