The value of total output must equal the value of total income in an economy for all
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Question:
The value of total output must equal the value of total income in an economy for all of the following reasons except
- For the circular nature of spending and income in the economy.
- One person's expenditures on goods and services is another person's income.
- Government expenditures must equal government revenues.
- Income earned is spent on goods and services, which creates additional production
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