The circular flow of income shows that
A) governments purchase goods and services.
B) firms generally are the demanders in the goods markets and suppliers in the factor markets.
C) households transact only in the goods market.
D) None of the above answers is correct.
Correct Answer:
Verified
Q20: In the GDP definition, market value refers
Q21: If we compare the four sources of
Q22: In the circular flow of economic activity
A)
Q23: The circular flow model shows that consumer
Q24: In the circular flow of income
A) households
Q26: The circular flow diagram indicates that
A) firms
Q27: The factor market can best be described
Q28: In the circular flow model, consumption expenditures
Q29: The circular flow shows that the household
Q30: The circular flow diagram shows
A) how nominal
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