Multiple Choice
The value of total output must equal the value of total income in an economy for all of the following reasons except
A) One person's expenditures on goods and services is another person's income.
B) Income earned is spent on goods and services,which creates additional production.
C) For the circular nature of spending and income in the economy.
D) Government expenditures must equal government revenues.
Correct Answer:

Verified
Correct Answer:
Verified
Q66: Value added is the<br>A)Addition to GDP because
Q67: National income is a measure of<br>A)How well
Q68: Without foreign trade,the dollars used to buy
Q69: Nominal GDP is not used to determine
Q70: What are transfer payments,and how do they
Q72: Suppose Blu-Ray players cost consumers $300 and
Q73: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5720/.jpg" alt=" According to the
Q74: Real GDP is more accurate than nominal
Q75: When we calculate GDP,imports are<br>A)Subtracted from total
Q76: If real GDP falls from one period