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Loraine Loraine
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9 years ago
In the circular flow, how are the "value of production," "income," and "expenditures" related?
A) They have no relationship to each other.
B) Once tax payments are subtracted at each stage, they are equal.
C) Expenditures on GDP equals the value of production which equals income.
D) Once net exports of goods and services are subtracted from GDP, all three are equal.
E) Value of production always equals income, but expenditures is smaller because households save some of their income and do not spend it.
Textbook 
Essential Foundations of Economics

Essential Foundations of Economics


Edition: 7th
Authors:
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Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.
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VincenzoDVincenzoD
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8 years ago
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Loraine Author
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9 years ago
You make an excellent tutor!
mikeh209
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Yesterday
I appreciate what you did here, answered it right Smiling Face with Open Mouth
Lawson1981
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2 hours ago
Thanks
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