The Identity That Shows That Total Income and Total Expenditure

question 11

Multiple Choice

The identity that shows that total income and total expenditure are equal is

• A)GDP = Y.
• B)Y = DI + T + NX.
• C)GDP = GNP - NX.
• D)Y = C + I + G + NX.

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Definitions:

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Economic Principle

Basic theories or laws that underpin the functioning of economic systems and guide the understanding of economic interactions and outcomes.

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The relationships and exchanges between different economic agents and sectors within an entire economy.

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