An economy's ________ is equal to its ________.
A) consumption; income
B) expenditure on goods and services; output
C) expenditure on goods; expenditure on services
D) investment; government expenditures
E) taxes; net exports

Question

Quizplus · Accepted Answer

An economy's expenditure on goods and services, also known as its gross domestic expenditure, is equal to its output, also known as its gross domestic product (GDP). This means that the total amount spent on all final goods and services produced in an economy is equal to the total value of those goods and services. Therefore, choice B is the correct answer.

An Economy's ________ Is Equal to Its ________

An Economy's Is Equal to Its