In the simple circular-flow diagram, with households and firms, GDP can be computed
A) as the income received by households, in the form of wages, rent and profit.
B) as the income received by households in the form of wages.
C) as the payments made by firms for labor.
D) as the profits received by households.
Correct Answer:
Verified
Q1: Which of the following headlines is more
Q1: In a simple circular-flow diagram,firms use the
Q2: A macroeconomist is interested in
A)explaining how changes
Q4: In a simple circular-flow diagram,firms
A)purchase resources from
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Q8: In a simple circular-flow diagram,households buy goods
Q24: For an actual economy,total expenditures on goods
Q25: According to the circular-flow diagram GDP
A)can be
Q27: According to the circular-flow diagram GDP
A)can be
Q533: Figure 23-1.
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