Answer
An economy's income must equal its expenditure because every transaction has a buyer and a seller.
Work Step by Step
The expenditure of the buyer must equal the income of the seller.
Principles of Economics, 7th Edition
by Mankiw, N. Gregory
Published by
South-Western College
ISBN 10:
128516587X
ISBN 13:
978-1-28516-587-5
Chapter 23 - Part VIII - Measuring a Nation's Income - Questions for Review - Page 502: 1
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