Total Output Equals Total Income

question 123

Multiple Choice

Total output equals total income

• A)only at equilibrium.
• B)always.
• C)only at non-equilibrium levels of income.
• D)never.

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Definitions:

County Court

A local court system that handles civil and minor criminal cases within a specific county.

Jurisdiction

The official power or authority to make legal decisions and judgments, often within a defined geographical area or over certain types of legal cases.

Negligence

A failure to behave with the level of care that someone of ordinary prudence would have exercised under the same circumstances, leading to unintended harm.

Diversity Of Citizenship

Under the Constitution, a basis for federal district court jurisdiction over a lawsuit between citizens of different states, a foreign country, and citizens of a state or different states or a foreign country and citizens of a state or states. The amount in controversy must be more than $75,000 before a federal court can exercise jurisdiction in such cases.