What is the difference between aggregate demand and aggregate supply? What are the four components of aggregate expenditures? What are the basic principles of macroeconomics?

Name: Midterm #3-Macroeconomics
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11/2/18 ECON EXAM #3 1. CHAPTER 10: BASIC MACROECONOMIC RELATIONSHIPS Chapter 10 covers how changes in income affect consumption, factors that can affect consumption, changes in real interest rates, factors that can affect investment and how investment affects real GDP. A. Key terms and Concepts i. 45-degree line: reference line in a 2D graph that shows equality between the variable measured on each axis ii. Consumption Schedule: table of numbers showing the amounts households plan to spend for consumer goods at different levels of disposable income (DI) iii. Saving Schedule: table of numbers that shows the amounts households plan to save at different levels