If total spending rises from one year to the next, then the economy must be producing a larger output of goods and services.

Name: If total spending rises from one year to the next, then the economy must be producing a larger output of goods and services.
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Question

Quizplus · Accepted Answer

Total spending can rise due to factors like inflation, where prices increase, rather than an increase in the actual output of goods and services.

If Total Spending Rises from One Year to the Next