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- Q4218981 subject Q7483210.
- Q4218981 subject Q8168518.
- Q4218981 subject Q8573121.
- Q4218981 abstract "The Keynesian cross diagram demonstrates the relationship between aggregate demand (shown on the vertical axis) and aggregate supply (shown on the horizontal axis, measured by output).In the Keynesian cross diagram (or 45-degree line diagram), a desired total spending (or aggregate expenditure, or "aggregate demand") curve (shown in blue) is drawn as a rising line since consumers will have a larger demand with a rise in disposable income, which increases with total national output. This increase is due to the positive relationship between consumption and consumers' disposable income in the consumption function. Aggregate demand may also rise due to increases in investment (due to the accelerator effect), while this rise is reduced if imports and tax revenues rise with income. Equilibrium in this diagram occurs where total demand, AD, equals the total amount of national output, Y, (which corresponds to total national income or production). Here, total demand equals total supply. In the diagram, the equilibrium level of output and demand is determined where this desired spending curve intersects a line that represents the equality of total income and output (AD=Y). The intersection gives the equilibrium output, Y.The movement toward equilibrium is mostly via changes in inventories inducing changes in production and income. If current output exceeds the equilibrium, inventories accumulate, encouraging businesses to cut back on production, moving the economy toward equilibrium. Similarly, if the level of production is below the equilibrium, then inventories run down, encouraging an increase in production and thus a move toward equilibrium. This equilibration process occurs when the equilibrium is stable, i.e., when the AD line is less steep than the AD=Y line.The equilibrium level of output determines the equilibrium level of employment in the model. (In a dynamic view, these are connected by Okun's Law.) There is no reason within the model why the equilibrium level of employment should correspond to full employment. Bringing in other considerations may imply this correspondence, though.If any of the components of aggregate demand (C + Ip + G + NX) rises at each level of income, for example because business becomes more optimistic about future profitability, that shifts the entire AD line upward. This raises equilibrium income and output. Similarly, if the elements of AD fall, that shifts the line downward and lowers equilibrium output. (The AD=Y line does not shift under the definition used here).".
- Q4218981 thumbnail KeynesianCross_3.png?width=300.
- Q4218981 wikiPageExternalLink KeynesianCrossDiagram.
- Q4218981 wikiPageExternalLink c02.html.
- Q4218981 wikiPageWikiLink Q1057397.
- Q4218981 wikiPageWikiLink Q1398935.
- Q4218981 wikiPageWikiLink Q1801078.
- Q4218981 wikiPageWikiLink Q18907327.
- Q4218981 wikiPageWikiLink Q192270.
- Q4218981 wikiPageWikiLink Q214270.
- Q4218981 wikiPageWikiLink Q2474789.
- Q4218981 wikiPageWikiLink Q2632017.
- Q4218981 wikiPageWikiLink Q384136.
- Q4218981 wikiPageWikiLink Q424460.
- Q4218981 wikiPageWikiLink Q595592.
- Q4218981 wikiPageWikiLink Q5988381.
- Q4218981 wikiPageWikiLink Q7483210.
- Q4218981 wikiPageWikiLink Q8168518.
- Q4218981 wikiPageWikiLink Q836133.
- Q4218981 wikiPageWikiLink Q8573121.
- Q4218981 wikiPageWikiLink Q986194.
- Q4218981 comment "The Keynesian cross diagram demonstrates the relationship between aggregate demand (shown on the vertical axis) and aggregate supply (shown on the horizontal axis, measured by output).In the Keynesian cross diagram (or 45-degree line diagram), a desired total spending (or aggregate expenditure, or "aggregate demand") curve (shown in blue) is drawn as a rising line since consumers will have a larger demand with a rise in disposable income, which increases with total national output.".
- Q4218981 label "Keynesian cross".
- Q4218981 depiction KeynesianCross_3.png.