Expenditure-output model
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Expenditure-output model is a macroeconomic model in which equilibrium output occurs where the total or aggregate expenditures in the economy are equal to the amount produced; also called the "Keynesian cross model."
Definition
According to Principles of Economics by Timothy Taylor (3rd edition),
- Expenditure-output model. A macroeconomic model in which equilibrium output occurs where the total or aggregate expenditures in the economy are equal to the amount produced; also called the "Keynesian cross model."
