For an Economy as a Whole,income Must Equal Expenditure Because

question 22

Multiple Choice

For an economy as a whole,income must equal expenditure because

• A)the number of firms is equal to the number of households in an economy.
• B)individuals can only spend what they earn each period.
• C)every dollar of spending by some buyer is a dollar of income for some seller.
• D)every dollar of saving by some consumer is a dollar of spending by some other consumer.

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Definitions:

General Social Survey

A sociological survey conducted in the United States to collect data on demographics, behaviors, attitudes, and societal trends.

Conflict Perspective

A theoretical framework in sociology that views social life as a competition for limited resources, emphasizing the conflicts between differing social classes and groups.

Reproduce Inequality

The perpetuation and maintenance of unequal social structures and relationships across generations, often through institutional practices and cultural norms.

Unequal Funding

The disparity or imbalance in financial resources allocated to different institutions, organizations, or sectors, often leading to inequalities in quality and outcomes.