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Earn +20 ptsQ: What is Money spent to purchase goods and services?
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How is opportunity cost related to the supply of goods and services?
Opportunity cost: Determining whether a purchase is a need or a want and realizing that once the money has been spent, it is gone.
The money spent by firms in order to produce and sell their goods and services is called?
For Plato Users: production costs
What is an aggregate expenditure?
expenditure money paid out; an amount spent expenditure the act of spending money for goods or services expenditure the act of consuming something
What is a total consumption budget?
Total income spent on the consumption of goods and services.
Money spent on the purchase of a new house is included in the GDP as a part of what?
Investment.
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