Aggregate Output Is

question 10

Multiple Choice

Aggregate output is:

• A) equal to consumer spending on goods and services.
• B) the value of new construction, changes in inventories, and the purchase of physical capital by businesses.
• C) the total quantity of intermediate goods produced by an economy.
• D) the total quantity of final goods and services produced by an economy.

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Definitions:

Familiarity Hypothesis

A theory suggesting that people prefer things they are familiar with over those that are unfamiliar.

Mirror Images

Identical copies of an image or object, but reversed left to right, as if viewed in a mirror.

Diffusion of Responsibility

A socio-psychological phenomenon whereby a person is less likely to take responsibility for action or inaction when others are present.

Bystander Intervention

The act of someone stepping in to help or intervene when they see another person in trouble, influenced by various psychological and situational factors.