The aggregate expenditures schedule relates total spending with the price level, while the aggregate demand schedule relates total demand for output with income.

True / False.

The correct answer is False.

Explanation:

Aggregate expenditure and aggregate demand are macroeconomic concepts that estimate two variants of the same value: national income. In the subspecialties such as national income accounting, the market value of all products and services is added to estimate the gross national income, the total wealth produced by the country. Aggregate expenditure and aggregate demand take consumption, investment, government expenses and net factor income from abroad as the basic components of economic demand. When the economy is in equilibrium, levels of consumption expenditure, investment, government expenses and net factor income from abroad are equivalent to the total effective demand and, therefore, the value of all goods and services provided by the economy.