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:

United Nations

An international organization founded in 1945 composed of member states, aimed at promoting peace, security, and cooperation among countries.

Britain

An island nation in the northwest of Europe, historically referring to the land of the Britons, and now more commonly associated with the United Kingdom.

Independence Struggle

An Independence Struggle is a conflict and series of actions taken by a country or region to gain sovereignty and self-government, often from colonial or oppressive rulers.