Answered

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Total production of final goods and services equals total expenditures. They both equal.
Ogovernment taxes
Oproducer's profits
total income

Sagot :

GinnyAnswer

Final answer:

Total production of final goods and services is equal to total expenditures, showcasing the relationship between GDP and total income in the economy.


Explanation:

Total production of final goods and services equals total expenditures. This means that the GDP, which includes consumption, investment, government purchases, and net exports, is equal to the total income in the economy. The equation GDP = C + I + G + Xn represents this fundamental relationship in the national accounts.


Learn more about GDP and National Income here:

https://brainly.com/question/41159416


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