巴德 宏观经济学原理（英文版·第8版）Chapter 14 PowerPoint.pptxVIP

How big is the governmentexpenditure multiplier? 14When you have completed your study of this chapter, you will be able to1 Explain how real GDP influences expenditure plans.2 Explain how real GDP adjusts to achieve equilibrium expenditure.3 Explain the expenditure multiplier.4 Derive the AD curve from equilibrium expenditure.CHAPTER CHECKLISTAggregate Expenditure Multiplier 14.1 EXPENDITURE PLANS AND REAL GDPFrom the circular flow of expenditure and income, aggregate expenditure is the sum ofConsumption expenditure, CInvestment, IGovernment expenditure on goods and services, GNet exports, NXAggregate expenditure = C + I + G + NX. 14.1 EXPENDITURE PLANS AND REAL GDPAggregate planned expenditure is the sum of the spending plans of households, firms, and governments.Aggregate planned expenditure is planned consumption expenditure, plus planned investment, plus planned government expenditure, plus planned exports, minus planned imports.We divide aggregate expenditure plans into autonomous expenditure and induced expenditure. 14.1 EXPENDITURE PLANS AND REAL GDPAutonomous expenditure is the components of aggregate expenditure that do not change when real GDP changes. Autonomous expenditure equals investment, plus government expenditure, plus exports, plus the components of consumption expenditure and imports that are not influenced by real GDP. 14.1 EXPENDITURE PLANS AND REAL GDPInduced expenditure is the components of aggregate expenditure that change when real GDP changes. Induced expenditure equals consumption expenditure minus imports (excluding the elements of consumption expenditure and imports that are part of autonomous expenditure). 14.1 EXPENDITURE PLANS AND REAL GDPThe Consumption FunctionConsumption function is the relationship between consumption expenditure and disposable income, other things remaining the same. Disposable income is aggregate income (GDP) minus net taxes. Net taxes are taxes paid to the government minus transfer payments receiv