MODEL OF AGGREGATE COSTS IN AN OPEN MARKET ECONOMY – THEORETICAL ASPECT

Tsvetan Iliev

Abstract


The subject of research in this paper is an open market model while the object of research is the role of the main factors at the level of production and employment with the participation of the state and the external sector represented by the flows of exports and imports. For the purposes of the survey, we use quantitative indicators that illustrate the flow of aggregate expenditure in a closed national economy.

Keywords


consumption, investment, saving, government expenditure, exports, imports, aggregate costs in the economy

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