Examlex
Use the graph below to explain the determination of equilibrium GDP by the aggregate expenditures-domestic output approach.At equilibrium C + Ig = Real GDP ($550 + $50 = $600).Why does the intersection of the aggregate expenditures schedule and the 45-degree line determine the equilibrium GDP?
Drawee
The party, usually a bank, required to pay the specified amount on a draft or check.
Drawer
The person or entity that writes and signs a check or draft, instructing the drawee (usually a bank) to pay the specified sum to the payee.
Payee
The individual or entity entitled to receive payment in a transaction.
Electronic Banking
The use of computer networks and digital technologies to conduct financial transactions and access banking services.
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