Flows per unit of time 2 stock at a unit of time

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Unformatted text preview: but not sold Newly Produced: Only things produced in a specific period of time In the Domestic Economy – geographical boundaries of country Period of time – Usually a year, but done at a quarterly report 1. Flows: per unit of time 2. Stock: at a unit of time Expenditure Approach – This is the preferred method of most governments because it is easy to find what’s spent 1. Total spending 2. Final goods and services 3. In a specific economy 4. Over a period of time 1 Joe Milbury Lecture Notes Section 104/108 Spring 2012, Econ 100B Four Categories of Spending 1. Consumption - households 2. Investment in physical assets by businesses 3. Government purchases of goods and services 4. Net Exports (Exports – Imports) a. Exports - b. Imports National Income Identity...
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