According to Keynes,output Is Demand Determined.This Means That

question 12

Multiple Choice

According to Keynes,output is demand determined.This means that

• A)the production of output creates the demand for the output.
• B)the demand for money causes businesses to produce goods and services.
• C)business will try to produce as much output as it can with the labor force fully employed.
• D)the output that business chooses to produce will be determined by the demand for output.

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Definitions:

Cost Of Goods Sold

Cost of Goods Sold (COGS) is the direct costs attributable to the production of the goods sold by a company, including materials and labor costs.

Accounting Period

A specific duration of time for which financial records are maintained and financial statements are prepared to assess a company's financial performance and position.

Gross Profit Margin

A financial metric that measures the percentage of revenue exceeding the cost of goods sold.

Cost Of Goods Sold

The total expense incurred by a business to manufacture or acquire products that were sold during a specific period.