Within the circular flow model, the level of total resource income and total spending on output will be approximately equal.

Name: Within the circular flow model, the level of total resource income and total spending on output will be approximately equal.
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Question

Quizplus · Accepted Answer

In the circular flow model, the total income earned by households from providing resources is spent on goods and services, making total resource income and total spending on output approximately equal.

Within the Circular Flow Model, the Level of Total Resource