The National Income and Product Accounts Allows Us to Relate

question 18

Multiple Choice

The National Income and Product Accounts allows us to relate ________ to ________ to ________.

• A) household income; government income; firm income
• B) total output; total spending; inflation
• C) total output; inflation; total income
• D) household income; household expenditure; total output
• E) total output; total spending; total income

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Definitions:

Lowest Quintile

The segment of a population that falls into the bottom 20% based on income or another measurable characteristic.

Income Distribution

The way in which total income is shared among the population or different segments of an economy.

Lorenz Curve

A graphical representation used in economics to show the distribution of income or wealth within a society, illustrating levels of inequality.

Personal Distribution

The distribution of income and wealth among individuals and households in an economy.