Which of the Following Statements Is FALSE

question 246

Multiple Choice

Which of the following statements is FALSE?

• A) One definition of total income is that it is the annual cost of producing the entire output of final goods and services.
• B) Transactions in which households buy final goods and services occur in the factor market.
• C) The value of total output is identical to total income.
• D) Saving is the difference between consumer income and expenditures.

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Definitions:

Skills And Abilities

The competencies and capabilities that an individual possesses, which are necessary for performing tasks or jobs effectively.

Education

The process of receiving or giving systematic instruction, especially at a school or university.

Trend Analysis

The practice of collecting information and attempting to spot a pattern, often used in financial markets, but also applicable in analyzing business metrics over time.

Delphi Technique

A method used for forecasting or decision making that involves a panel of experts answering questionnaires in several rounds, with the anonymous responses being aggregated and shared with the panel after each round until a consensus is reached.