A certificate of indebtedness from the issuer to the bond holder.

Exists when government spending exceeds the revenue collected from taxes.

Exists when government spending is less than revenue collected from taxes.

The periodic rise and fall (in four phases) of economic activity.

This account shows the flow of investment on real or financial assets between a nation and foreigners.

A model that shows how households and firms circulate resources, goods and incomes though the economy. This basic model is expanded to include the g and foreign sector.

A model that assumes there is no foreign sector (m and x).

A producer has comparative advantage if he can produce a good at lower opportunity cost than all other producers.

The price index that measures the average price level of the items in the base year market basket. This is the main measure of consumer inflation.

Tables that show the direct relationships between disposable income and consumption and saving.