For the economy as a whole:

Name: For the economy as a whole:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The economy as a whole operates on the principle of income and expenditures being equal. Every transaction in the economy involves both a buyer and a seller, and so income generated by one section of the economy becomes the expenditure of another section. This means that, at a macro level, income and expenditures must always be equal, as every dollar earned by someone is ultimately spent by someone else.

For the Economy as a Whole