The Variation of GDP in a Simple Model of Income Determination
DOI:
https://doi.org/10.46661/revmetodoscuanteconempresa.2693Keywords:
macroeconomía, producto interior bruto (PIB), modelo de determinación de la renta, tasa de crecimiento, macroeconomics, gross domestic product (GDP), model of income determination, growth rateAbstract
In this paper, we prove that in a simple model of income determination, when taking into account linear functions, the change rate for the gross domestic product (GDP) is equal to the quotient of the increase in investment and the sum of exogenous consumption plus the initial investment. This means that the slope of the consumption function does not influence the change rate for the GDP and what matters for this variation rate is the exogenous consumption and the initial investment.
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