In a circular-flow diagram, one loop shows the flow of real goods and services and the other loop shows the corresponding flow of dollars.
Correct Answer:
Verified
Q5: In the circular-flow diagram, the only return
Q6: Understanding how an economic system works is
Q7: The production possibilities frontier illustrates that it
Q8: Factors of production are factors like labour,
Q10: Most economic theories have been developed and
Q11: Economic models always attempt to include as
Q12: The art in scientific thinking is in
Q13: The difference between natural scientists and economists
Q14: Any point inside the production possibilities frontier
Q17: All scientific models, including economic models, simplify
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents