What Shifts the Aggregate Expenditures Function? What Changes Its Slope

question 9

Essay

What shifts the aggregate expenditures function? What changes its slope?

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Definitions:

External Locus of Control

External locus of control is the belief that one's life outcomes are largely determined by external factors beyond personal control, such as fate, luck, or the actions of others.

Motive to Avoid Failure

This is the drive or inclination to avoid situations that could lead to failing in order to prevent feelings of inadequacy or disappointment.

Incentive Value

The perceived attractiveness or desirability of a reward or outcome, motivating behavior towards achieving it.

Probability of Success

A measure or estimation of the likelihood that an endeavor, task, or activity will be successful, often used in decision-making processes.