Irish Patrick’s day gnome hug football is my favorite season shirt
Spending is the transfer of ownership Irish Patrick’s day gnome hug football is my favorite season shirt of money from one person or entity to another. The spender gives the money to the recipient of the spending, and that amount of spending becomes income for that recipient. In the macroeconomy total spending equals total income so that net income equals zero.
In this model the spending we are talking about is gross Irish Patrick’s day gnome hug football is my favorite season shirt spending. In other words when we are accounting for spending we are accounting for all the spending, all the transfer of ownership of money.
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