The income a consumer has left over to spend or save once they have paid out their net taxes.

Another way of saying that saving is less than zero. This can occur at low levels of disposable income when the consumer must liquidate assets or borrow to maintain consumption.

The equilibrium price of a good in a nation without trade.

The mistake of including the value of intermediate stages of production in GDP on top of the value of the final good.

Occurs when an economy’s production possibilities increase.

The study of how people, firms, and societies use their scarce productive resources to best satisfy their unlimited material wants.

The philosophy that all citizens should receive an equal share of the economic resources.

The equation says the gdp is equal to the q of money multiplied by the number of times each dollar is spent in a year.

The firm’s method of raising funds for investment by issuing shares of stock to the public.

The portion of a deposit that may be borrow by customers.