-Diagram 40a indicates that
A) aggregate spending and aggregate product are the same.
B) aggregate spending and aggregate income are the same.
C) aggregate product and aggregate income are the same.
D) aggregate spending and equilibrium income are the same

Question

-Diagram 40a indicates that
A) aggregate spending and aggregate product are the same. 
B) aggregate spending and aggregate income are the same. 
C) aggregate product and aggregate income are the same. 
D) aggregate spending and equilibrium income are the same

Quizplus · Accepted Answer

In macroeconomics, the terms aggregate product and aggregate income are often used interchangeably because the total value of goods and services produced (aggregate product) in an economy is equal to the total income earned (aggregate income) in producing those goods and services.

-Diagram 40a Indicates That