The Nature of Planning Changes with the Length of the Time

question 123

True/False

The nature of planning changes with the length of the time period being considered.Generally,the shorter the time period,the more general the plans.

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Definitions:

Government Spending

Expenditures made by the government for the purpose of maintaining the economy and public services.

Paradox Of Thrift

The economic theory suggesting that increased saving in the aggregate can lead to a decrease in economic growth, income, and spending.

National Output

National output is the total value of services and goods produced by a country's economy over a specified period of time, essentially synonymous with Gross Domestic Product (GDP).

Saving Function

As income rises, saving rises, but not as quickly.