Which of the following statements is FALSE? A) Transactions in which
Which of the following statements is FALSE?
A) Transactions in which households buy final goods and services occur in the factor market.
B) Saving is the difference between consumer income and expenditures.
C) The value of total output is identical to total income.
D) One definition of total income is that it is the annual cost of producing the entire output of final goods and services.
ANSWER
A
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