An economy's ______ equals its ______.
A) consumption; income
B) consumption; expenditure on goods and services
C) expenditure on goods; expenditures on services
D) total income; total expenditure on goods and services

Question

Quizplus · Accepted Answer

An economy's total income equals its total expenditure on goods and services, also known as its Gross Domestic Product (GDP). This is because every dollar spent on goods and services by one individual or entity is income for another. Therefore, the total spending in the economy must equal the total income earned in the economy.

An Economy's ______ Equals Its ______

An Economy's Equals Its