The Circular Flow of Income Shows That GDP Can Be

question 20

True/False

The circular flow of income shows that GDP can be measured as the sum of wages,interest,rent,and profits received by households or total expenditures on goods and services by households,firms,government,and the rest of the world.

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Definitions:

Group Of Bits

A collection of binary digits (bits) treated as a single unit in digital computing and communications.

Input

Information transmitted from a peripheral device to the input module and then to the data table.

Output

The result or data produced by a system or process, often sent to a display, storage device, or another system component.