At the equilibrium level of income, it must be true that total
A. income equals total spending.
B. product equals total output.
C. output equals total inventory.
D. income equals total saving.
Answer: A
Economics
You might also like to view...
Federal and state governments in the United States pay for ________ of health care spending
A) less than 10 percent B) approximately 34 percent C) just over half D) more than 80 percent
Economics
Which of the following statements is correct?
A) Arc elasticity of demand is the same as the slope of the demand curve. B) Arc elasticity of demand only applies to a nonlinear demand curve. C) Point elasticity of demand is measured at each point along a demand curve. D) Point elasticity of demand is measured between two adjacent points on a demand curve.
Economics