Total Income Is Always Equal to ________ Expenditures;but Only in Equilibrium

question 20

Multiple Choice

Total income is always equal to ________ expenditures;but only in equilibrium is it equal to ________ expenditures,producing in equilibrium ________ on income to change.

• A)actual,planned,pressure
• B)actual,planned,no pressure
• C)planned,actual,pressure
• D)planned,actual,no pressure

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Definitions:

Product-variety Externality

The impact on consumer welfare or market efficiency due to variety in products available, often seen as a positive externality in markets.

Business-stealing Externality

A negative effect where a new entrant in a market draws customers from existing businesses, potentially harming those businesses without creating new value for the market as a whole.

Negative Externality

A cost that affects a party who did not choose to incur that cost, often associated with the production or consumption of a good or service.

Advertising

The activity or profession of promoting products, services, or ideas through various forms of media.