The sum of all the money people spend buying final goods and services-omitting spending on intermediate goods, so as not to double-count-equals:

Question

Quizplus · Accepted Answer

The sum of all the money people spend buying final goods and services, while omitting spending on intermediate goods to avoid double-counting, is a description that applies to all the given options: the market value of all output sold in the economy, the gross domestic product (GDP) of the economy, and total expenditure in the economy. These are different ways to describe the same economic measure, thus making all of these statements true.

The Sum of All the Money People Spend Buying Final