An economy's ________ is/are 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 (i.e. its total spending) is equal to its output (i.e. the total value of goods and services produced). This is known as the expenditure approach to measuring GDP. So, B is the correct choice.

An Economy's ________ Is/are Equal to Its ________

An Economy's Is/are Equal to Its