At the Equilibrium Level of Income, It Must Be True

question 152

Multiple Choice

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.

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Definitions:

Economic Self-sufficiency

The condition of being able to produce and maintain the consumption of goods and services without external assistance.

George Washington Carver

An American agricultural scientist and inventor who promoted alternative crops to cotton and methods to prevent soil depletion.

Agricultural Department

Governmental department responsible for the administration and regulation of policies related to agriculture, farming, and food production.

Tuskegee Institute

An historically black university in Alabama, founded by Booker T. Washington, to provide higher education and vocational training.