The Concept That Producing Goods and Services Generates the Means

question 154

Multiple Choice

The concept that producing goods and services generates the means and the willingness to purchase other goods and services is

• A) the Keynesian approach.
• B) money illusion.
• C) Say's law.
• D) secular deflation.

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Definitions:

Distribution Of Income

Refers to the way total personal income is spread across a population.

In-Kind Transfers

Transfers to the poor given in the form of goods and services rather than cash

Market Value

The existing rate at which an asset or service may be traded in the marketplace.

Poverty Line

A threshold income level below which an individual or family is considered to be in poverty, varying by location and household size.